EU Targets Russian Aluminium in New Sanctions Package

The European Commission has proposed sanctions on Russian aluminium imports in response to its invasion of Ukraine. Set to be discussed by member states, this ban includes aluminium alloys and offers a one-year exemption for 275,000 metric tons deemed 'necessary' imports.

The European Commission has taken a significant step in its ongoing response to Russia's invasion of Ukraine by targeting the nation's aluminium industry. In a newly proposed set of sanctions unveiled to member states on Tuesday, the Commission aims to include Russian primary aluminium imports on its sanctions list.

The sanctions proposal, forming part of the draft for the 16th sanctions package, is set to be the focus of discussions starting Wednesday afternoon. As per the document obtained by Reuters, the move seeks to disrupt the revenue stream for Russia that funds its war efforts.

The ban is comprehensive, covering aluminium alloys and including a phased implementation over one year. However, to mitigate the immediate impact, the plan allows for a total of 275,000 metric tons of 'necessary' imports during this phase-in period.

(With inputs from agencies.)