EU preserves € 60 billion in frozen Russian assets with sanctions extension

European Commission President Ursula von der Leyen has confirmed the extension of EU sanctions against Russia.

The Ukrainian attacks on Russian oil processing facilities are part of the ongoing efforts to disrupt Russian supply lines and logistics supporting their occupation forces. Throughout 2024, Ukraine regularly struck oil depots and refineries in Russia, significantly escalating long-range drone attacks on Russian fuel facilities in early 2025.

According to von der Leyen, the EU has sanctioned nearly 2,400 individuals and entities due to Russia’s aggression against Ukraine. She added that the EU has imposed travel bans, asset freezes, and restrictions on financial and material support for those aiding Russia’s war machine.

“Our determination to support Ukraine is decisive,” she stated.

On Friday, 14 March, EU ambassadors agreed to extend a range of sanctions against Russia after reaching a compromise with Hungary. However, under pressure from Budapest, several Russians were removed from the EU sanctions list, according to European Pravda.

The decision was adopted through a written procedure, extending the sanctions for another six months until 15 September 2025.

Failing to extend the sanctions could have resulted in unfreezing up to 30% of all frozen Russian assets—an estimated €60 billion or more.

Earlier, the Financial Times reported that Hungary’s reluctance to approve the sanctions led to renewed discussions among EU member states about potentially stripping Budapest of its voting rights in key decisions.

If Hungary attempts similar obstruction in July—when the EU will decide on extending economic sanctions, including the freezing of Russian state assets—EU nations may take stronger measures against Budapest.

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