The EU is preparing sanctions against Russia's aluminum sector, 15 banks, and the "shadow fleet," according to Bloomberg.

This is reported by Bloomberg, citing sources.

The package also includes sanctions that will exclude about 15 banks from the SWIFT system, as well as measures against more than 70 vessels of the "shadow fleet" involved in the transportation of Russian oil.

The plan stipulates that European buyers will be able to import Russian aluminum under quotas for one year before the ban fully takes effect. Implementing these plans requires the agreement of all member states, and they may be modified before the official presentation.

Calls for a ban on Russian aluminum have been voiced since the beginning of the invasion of Ukraine, and the volume of supplies to the EU has been steadily declining as producers seek alternative suppliers.

However, some buyers and member states have still resisted such measures, arguing that replacing certain key products will be challenging.

Pressure to tighten measures against Russia's metallurgical sector has increased in recent months. The US and UK banned trade in Russian metals on the London Metal Exchange last year, initially causing sharp price fluctuations and leading to a restructuring of global trade flows.

According to UN Comtrade data, the EU imported about 320,000 tons of raw aluminum from Russia in the first 11 months of 2024, accounting for 6% of total imports. Meanwhile, supplies to China have significantly increased.

Reminder:

Oleg Deripaska's company "Rusal" plans to cut metal production by 250,000 tons due to the challenging economic situation.

The Russian aluminum giant "Rusal" fears that up to 36% of its sales could be at risk due to sanctions imposed by the US and UK.

The Russian giant "Rusal" has stated that US and UK sanctions will not affect metal exports, as they do not impact the company's global logistics solutions, access to the banking system, and production system.