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Fortune

Ryan Hogg

EU mulls 81-year-old decree signed by king of Belgium to block veto on Russia sanctions

European Union Russia Viktor Orbán Belgium Donald Trump King Charles III Euroclear

King Philippe of Belgium inaugurates the Brussels Motor Show in the Palais du Heysel, on January 10, 2025 in Brussels, Belgium. (Credit: Thierry Monasse/Getty Images)

The EU is considering its options to block Hungary from vetoing hundreds of billions of dollars worth of sanctions against Russia, including an 81-year-old decree that can only be signed by the king of Belgium.

The bloc is set to vote on the rollover of economic sanctions against Russia, which allows the confiscation of Russian assets held in Europe and blocks the trade of Russian oil and gas.

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