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The decision at a summit in Brussels means that the EU's sweeping sanctions over the war in Ukraine, including the freezing of more than 200 billion euros ($234 billion) in Russian central bank assets, will remain in force until at least early 2026.
It comes after officials said they were preparing contingency plans to keep the bloc's economic punishment on Moscow in place should Hungarian leader Viktor Orban refuse to budge.
EU counterparts had feared a refusal by Budapest to renew the measures could blow a massive hole in the leverage the bloc holds over Russia as the United States presses peace efforts.