SWENTR.SITE
sanctions

EU to unlock €500mn in bid for Orban's Russia sanctions backing

SUMMARY

The EU plans to release €550 million in frozen funds to Hungary to gain support for its latest sanctions against Russia. This 19th sanctions package targets various sectors, including energy and trade, but needs unanimous approval from all 27 member states. Hungary and Slovakia have threatened to block these sanctions due to their reliance on Russian crude.

Brussels previously unblocked over €10 billion for Hungary after claiming progress on rule-of-law issues. The new sanctions include a complete ban on Russian LNG by 2027, but Hungary indicates it will veto any measures that threaten its energy supplies. Russia has condemned the sanctions as illegal and counterproductive.


▶︎ Click here for more breaking news