EU Plans New Ban on Russian Aluminum, Says Trade Group
Aluminum | 2023-11-21 20:21:35
The High Representative proposes to sanction more than 120 additional individuals and entities.
By Paul Ploumis
SEATTLE (Scrap Monster): The High Representative, along with the European Commission submitted a proposal for the 12th package of sanctions against Russia. This is in line with the earlier decision by the European Council to further weaken Russia’s ability to continue its Ukraine invasion.
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The High Representative proposes to sanction more than 120 additional individuals and entities. It also proposes to adopt new import and export bans as well as to strengthen the price cap on Russian oil. The proposal also includes extension of EU import bans for certain aluminum products including wires, tubes, pipes and aluminum foil, said the European External Action Service (EEAS) in a news release.
Although EEAS did not make explicit mention about fresh trade sanctions on aluminum, the package is expected to result in a ban on around 12% of EU imports of aluminum products from Russia.
The trade group stated that the ban is not nearly broad enough to have a meaningful impact. It urged the Commission to expand the restrictions so as to cover wider range of products. The ban should be made applicable to ingots, slabs, and billets, which account for over 85% of the region’s imports from Russia. A much more rapid and expansive approach to restrict Russian aluminum imports is needed, it noted.
