European Union foreign policy chief Kaja Kallas said she expected the bloc to renew its sanctions on Russia on Monday after Hungary signalled it would stop holding up the move in return for assurances about energy security.

Before reupping the sanctions, Budapest wanted to wait for Trump's inauguration, then insisted Brussels push Ukraine to reopen a gas pipeline running to Central Europe.

The European Union renewed on Monday its wide-ranging sanctions on Russia over the war in Ukraine, after Hungary stopped holding up the move in return for a declaration on energy security.

"This will continue to deprive Moscow of revenues to finance its war. Russia needs to pay for the damage they are causing," EU chief diplomat Kaja Kallas said.

Sanctions targeting Russia's economy are renewed by the EU, with Hungary backing down from a veto that delayed the decision.