EU to Propose Russian Aluminum Ban in Sweeping Sanctions Package
- Bloc’s measures also target Russian banks and oil fleet
- Russia accounts for about 8% of European aluminum imports
Rolls of aluminum at the Sayanal mill, operated by United Co. Rusal, in Sayanogorsk, Russia.
Source: Bloomberg
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The European Union is proposing a phased ban on imports of Russian aluminum as part of a broad sanctions package ahead of the third anniversary of the Kremlin’s invasion of Ukraine, according to people familiar with the matter.
The package — which has been circulated among member states this week — also proposes sanctions that would cut more banks off from the SWIFT banking system, and actions targeting more than 70 dark-fleet vessels involved in shipping Russian oil, the people said.