New EU sanctions against Russia: Which sectors will be hit?

The EU may include a ban on aluminum imports in the 16th package of Russian sanctions, which will be adopted in February. The ban will be implemented in stages. The US and Britain have already banned imports of Russian aluminum, but the EU has refused to follow their example due to opposition from some member states.

In the first three quarters of last year, EU countries imported about 130,000 tons of aluminum from Russia (6% of the total). For comparison, for the same periods in 2023 and 2022, this figure reached 11% and 19%, respectively.

In addition, the EU is considering introducing a gradual phaseout of LNG from Russia as part of its next package of sanctions. There are also sanctions against dozens of shadow fleet vessels and further export control on goods used for military purposes. The move will also cause more banks to be disconnected from the SWIFT international payment system.

For the first time, the EC will try to impose trade sanctions against Russia, which do not require a unanimous vote and cannot be blocked by a veto from Hungary or Slovakia.