Anastasia Gorbacheva10:43, 29.01.25

Russia accounts for about 8% of European aluminium imports.

The European Union proposes to introduce a new package of sanctions against the Russian Federation. The restrictions include disconnecting about 15 Russian banks from the SWIFT banking system and a number of other measures.

Bloomberg writes that the package, which was distributed among member states, also proposes measures against more than 70 “shadow fleet” vessels involved in transporting Russian oil. In addition, it proposes introducing a gradual ban on imports of Russian aluminum .

The sanctions package will allow European buyers to import Russian metal under a quota system for one year before a full ban comes into force, the sources said. They said the plans would require support from all EU member states and could change before they are formally proposed to members.

Calls for the EU to ban Russian aluminium have been going on since the invasion of Ukraine, and Russian supplies to the bloc have steadily declined as producers look for alternative suppliers. However, some buyers and EU member states have so far resisted such measures, arguing that some key products would be difficult to replace in full.

It is not a given that the EU will agree to the package of measures, which will be the 16th in a row against Russia. Budapest is increasingly resisting additional sanctions against Moscow.

Pressure has increased in recent months to take tougher measures against the Russian metals sector.

The EU imported about 320,000 tonnes of unwrought aluminium from Russia in the first 11 months of 2024, accounting for 6% of total imports, according to UN Comtrade data. Meanwhile, shipments to China have risen sharply.

The EU has previously considered adding LNG to the list of restrictions, but this is likely to be done as part of a roadmap to phase out the commodity rather than in the form of sanctions.

In addition, this week the EU proposed imposing duties on the remaining agricultural products from Russia and Belarus that are not yet subject to duties, as well as on some nitrogen fertilizers.

Ban on aluminum from Russia – main news 

Last year, the US and UK imposed a ban on trading Russian metals on the London Metal Exchange , initially causing sharp price swings on the exchange and accelerating a reshuffling of global trade flows.

Thus, in April 2024, metals rose sharply in price , in particular aluminum rose to a record high. It is noted that restrictions on the supply of aluminum, nickel and copper do not prevent Russia from selling its metals to buyers outside the United States or Great Britain and do not limit the vast majority of global metal trade.

(C)UNIAN 2025