EU foreign ministers adopted a 16th package of sanctions against Russia on, which targets a cryptocurrency exchange for the first time, a Council statement said.

In January, Budapest, which has maintained close ties with Moscow through the war, held up the renewal of the economic sanctions that include the immobilisation of Moscow's central bank assets. An agreement was reached after the European Commission agreed to include Hungary in talks about resuming gas transit to the EU through Ukraine.

The European Union must take greater control of its sanctions policy against Russia as U.S. priorities shift, EU Economy and Trade Commissioner Valdis Dombrovskis said on Feb. 18.