EU Considers Gradual Ban on Russian LNG and Aluminum
- Measures would be part of the bloc’s 16th package of sanctions
- Move may also add more vessels from Moscow’s shadow fleet
Aluminum ingots at a storage site in Russia.
Source: BloombergThis article is for subscribers only.
The European Union is considering import restrictions on Russian aluminum and phasing out liquefied natural gas from the nation as part of a new package of sanctions targeting Moscow for its full-scale invasion of Ukraine, according to people familiar with the matter.
The draft measures, which would be part of the bloc’s 16th package of sanctions, include restrictions on dozens more vessels that are part of Moscow’s shadow fleet of tankers transporting Russian oil and further export controls on goods used for military purposes. The move could also see more banks cut off from the SWIFT international payments system, said the people, who spoke on condition of anonymity.