The EU is considering additional restrictions on Russian metals
The European Commission has proposed a 21st package of sanctions against Russia, focusing primarily on energy revenues, the financial sector, and circumvention networks, while introducing new trade restrictions affecting certain metals, alloys, and metal ores, Kallanish notes.
In a statement released Tuesday, European Commission President Ursula von der Leyen says the package will impose additional export restrictions on metals and alloys used by the Russian aerospace and defense industries, along with new import bans on certain metals and metal ores.
"We are focusing on more metals and alloys used in the aerospace and defense sectors," von der Leyen says. She adds that the proposed import restrictions are aimed at "limiting the diversification of the European market at the expense of Russian imports."
The Commission does not specify which metals, alloys or ores will be affected by the publication deadline. The proposed measures are part of a broader package covering goods worth about 60 million euros ($69.2 million), including certain metals, metal ores and automotive parts.
The main measures of the sanctions package are directed against Russia's oil revenues and financial system. The Commission proposes adding 30 more vessels to the sanctions list, restricting the sale of liquefied natural gas tankers to Russia, targeting infrastructure involved in Russian oil trade, extending the ban on transactions to 31 more Russian banks, and imposing measures against third-country banks, crypto firms, and oil traders accused of helping Russia circumvent existing sanctions
For this proposal to enter into force, it must be approved by the EU Member States.
Author: Elina Virchenko
Kallanish.com