The EU is preparing a new package of sanctions against russia

The EU is preparing a new, 16th package of sanctions against russia. In it, the European Commission intends to propose a ban on imports of russian primary aluminum.

It is noted that the EU member states hope to adopt a new sanctions package in February - by the third anniversary of russia's full-scale war against Ukraine.

According to the agency's sources, on Tuesday, January 14, the European Commission held informal meetings with EU countries to discuss the details of the future package. The ban will be introduced in stages, one of the sources said.

“In a letter late last year, 10 EU countries proposed further sanctions on trade with russia, including the production of metals such as aluminum. So far, the 27-member bloc has banned aluminum products, including wire, tubes and foil. They account for less than 15% of the EU's imports of this metal, which is used in the transportation, packaging, and construction industries. Significantly lighter than steel, aluminum is now the metal of choice for a wide range of electric vehicle parts,” the article explains.

Over the past two years, imports of russian primary aluminum to the European Union have declined - from January to October, about 6% of the total volume of 2.2 million tons was imported, according to the information provider Trade Data Monitor. In the same period in 2023 and 2022, the share of russian aluminum was 11% and 19%, respectively.

“EU and US companies may provoke a race for alternative Middle Eastern supplies, particularly from the United Arab Emirates and Bahrain. According to the International Aluminum Institute, the region produced almost 9% of global supply in 2024,” the authors add.

Source: Reuters