The EU has found a way to approve sanctions against Russia, even if Hungary attempts to block them.

If Hungary vetoes the extension of sanctions, the European Union will turn to national laws, writes the BBC, citing the Financial Times.

Approximately €190 billion in frozen Russian assets is held in the Belgian depository Euroclear. Without sanctions, the company will have no legal grounds to continue holding these assets, and "the money will end up in Russia the next day," an FT official said on condition of anonymity.

A Belgian decree from World War II allows the king to block the export of assets from the country. This would enable circumventing a veto at the level of an individual nation.

The administration of King Philippe declined to disclose whether this issue had been discussed with him. The royal palace noted that while such a decree must be signed by the monarch, the responsibility for it will lie with the government.

Nevertheless, Belgium and other EU countries hope to reach an agreement with Budapest regarding the extension of sanctions against Russia.

One FT source stated that if Brussels utilizes the 1944 decree, it would violate the bilateral investment treaty between Russia and Belgium.

Hungarian Prime Minister Viktor Orban stated in December that he might block the EU's extension of sanctions against Russia, which are set to expire on January 31. His decision will depend on what the U.S. does when Donald Trump resumes the presidency.

"We will refrain from making a decision until we see how the U.S. administration acts," said Janos Boka, Hungary's Minister for EU Affairs.

In order to extend the sanctions for another six months, all EU countries must approve this decision.

Background. Recall that the U.S. Treasury imposed sanctions against one of Orban's closest associates. Rogan has been accused of creating corrupt schemes and robbing his own people.