EU Considers Belgian King's Role Amid Hungary's Sanction Veto Threat

The European Union is facing a critical challenge as Hungary signals its intent to potentially veto the renewal of sanctions against Russia, which are essential for limiting Moscow's financial resources amid the ongoing conflict in Ukraine. As part of the sanctions, approximately 190 billion euros in Russian assets are currently frozen in Belgium, but if Hungary blocks the extension, these funds could be released immediately. To counter this potential veto, EU officials are considering invoking a wartime Belgian law that allows King Philippe to issue a decree to prevent the transfer of these frozen assets. Hungarian Prime Minister Viktor Orbán's stance appears to be influenced by the upcoming inauguration of Donald Trump, raising concerns that Hungary may align its position with a possible easing of US sanctions. The situation is urgent, as the deadline for renewing the sanctions is January 31, and unanimous approval from all 27 EU member states is required. If no agreement is reached, it could undermine the EU's unified response to Russia's actions and facilitate the flow of significant resources back to Moscow.