The European Union renewed on Monday its wide-ranging sanctions on Russia over the war in Ukraine, after Hungary stopped holding up the move in return for a declaration on energy security.

The European Union will moved forward with a renewal on Russian sanctions after a deal was struck with Hungary, according to multiple reports.

The European Union has agreed to prolong for 6 months a raft of sanctions aimed at depriving Russia of funds to finance its war against Ukraine

Separate from LNG, the sanctions package will propose penalties on more aging oil-exporting tankers operating as part of Russia's so-called shadow fleet, the diplomats added. The EU will target 74 new vessels, two other EU diplomats said.

The European Union renewed its wide-ranging sanctions on Russia on Monday for another six months after Hungary stopped holding up the move in return for assurances about energy security. "Europe delivers: EU Foreign Ministers just agreed to extend again the sanctions on Russia,

Hungary prolonged its blockage of the renewal of sanctions against Russia as Prime Minister Viktor Orban called on the European Union to pressure Ukraine to re-establish the transit of Russian gas to Europe.

EU foreign ministers will consider the extension of sanctions against Russia. Hungary may block the decision if its demand is not met, states Hungarian Foreign Minister Peter Szijjarto on his Facebook page.

The European Union requires a unanimous vote to extend sanctions on Russia, a situation Hungary's Viktor Orban wants to use to pressure the bloc into forcing Ukraine to reopen a transit pipeline for Russian gas.

Hungary’s representatives have not yet agreed to a decision on the extension of EU sanctions against Russia. The issue will be considered at an EU Council meeting at foreign minister level on Monday,