The European Union’s sanctions against Russia, which are due to be renewed in the coming days, shouldn’t be automatically extended, a senior official from Hungary said on Thursday, calling for a ‘debate’ and throwing the renewal of the bloc’s sanctions in doubt.
The EU ambassadors are expected to meet later this month, but a renewal of the sanctions on Russia needs to be unanimously approved by all 27 EU member states.
Hungary’s leader, Prime Minister Viktor Orban, has repeatedly called for the EU to re-think the sanctions, especially since Donald Trump was elected U.S. President.
Trump’s return to the White House has created a “new situation,” Hungarian Cabinet Minister Gergely Gulyas told reporters on Thursday, as quoted by Bloomberg.
This “new situation” means that the EU sanctions renewal should not be “automatic,” Gulyas said.
But President Trump has just said that Russia should start negotiations over ending the war in Ukraine, or face taxes, tariffs, and more sanctions.
“We can do it the easy way, or the hard way,” President Trump posted on the social media platform Truth Social on Wednesday.
Separately, the EU is said to be considering a gradual ban on EU imports of LNG from Russia.
The EU no longer imports pipeline natural gas from Russia via Ukraine, after the latter refused to negotiate an extension to the transit gas deal that expired on December 31, 2024.
The EU, however, has significantly boosted imports of Russian LNG in recent months.
The rising share of Russia’s LNG in EU supply comes as a concern for several EU member states that have been pushing for ways to curb Europe’s reliance on Russian LNG cargoes.
Now the EU is considering a gradual phase-out from Russia’s LNG. This could be done either in the form of sanctions or as part of a road map that the European Commission is expected to present in February, sources with knowledge of plans told Bloomberg last week.
By Charles Kennedy for Oilprice.com