EU considers fresh sanctions on Russian aluminium, LNG imports

European Union is contemplating a series of new sanctions on Russia, including import restrictions on Russian aluminium and a gradual phase-out of liquefied natural gas (LNG), as part of a broader 16th sanctions package aimed at pressuring Moscow over its ongoing invasion of Ukraine.

The draft measures, which remain under negotiation, propose additional restrictions on Russian vessels linked to the country's shadow fleet, transporting oil to avoid existing sanctions, Caliber.Az reports, citing Bloomberg.

The sanctions would also extend to more Russian banks, cutting them off from the international payment system SWIFT. Furthermore, the EU is looking to impose further export controls on goods with military applications, tightening the flow of technologies that could support Russia's war efforts.

A key element of the proposed sanctions is the gradual restriction on Russian aluminium imports, although the specifics of the timeline and scope have yet to be determined. Additionally, a phased reduction of Russian LNG imports is on the table. Some EU nations have pushed for a complete ban on Russian gas, but the bloc is still deliberating whether this should be implemented through sanctions or as part of a broader energy roadmap to be unveiled next month.

Despite strong calls for a ban on Russian pipeline gas, a number of EU member states, including Hungary and Slovakia, continue to rely on supplies from Gazprom. As such, sanctioning pipeline gas is seen as less feasible, but banning LNG imports, particularly from Spain, Belgium, and France, is viewed as a more practical option.

The EU is also exploring measures to target third-party nations, such as China and the United Arab Emirates, that are allegedly aiding Russia in circumventing sanctions by providing technologies for military use. Further restrictions on Russia's transportation sector are also under consideration, alongside proposals to increase tariffs on agricultural goods and fertilizers.

As the EU works to close loopholes in existing sanctions, it is aiming to finalize the new package next month, coinciding with the third anniversary of Russia's invasion of Ukraine. These moves are part of the EU's ongoing efforts to increase pressure on Moscow and ensure that it faces significant economic and geopolitical consequences for its actions.

By Khagan Isayev