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Summary
Brussels is preparing to implement capital controls and tariffs against Russia if Hungary vetoes the extension of EU sanctions linked to its war in Ukraine. The European Commission indicated that a substantial portion of the sanctions could be shifted to a different legal basis, requiring only a majority of EU countries for approval. Amid ongoing diplomatic efforts for peace, Hungary’s Prime Minister Viktor Orbán has threatened to block sanctions unless all 27 member states agree to extend them, highlighting tensions over economic restrictions on Moscow.
