EU Countries Push for Wider Sanctions on Russian Metals
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Ten European Union (EU) countries are calling for expanded sanctions against Russia, including bans on metal exports, to further cripple the country's war effort in Ukraine, as reported by Reuters. The proposal, outlined in a letter seen by the news agency, aims to target Russia's key revenue streams beyond fossil fuels.
The letter, signed by Poland, Denmark, Czech Republic, Ireland, Estonia, Latvia, Lithuania, Sweden, Finland, and Romania, emphasizes the importance of restricting metal imports from Russia. "As metals make up the most important source of revenue for Russia besides fossil fuels, we must also impose additional import bans on metals," the letter states.
While the EU has already imposed sanctions on over 2,000 individuals and entities, it has not yet targeted Russian metal producers such as Rusal or primary metal produced in Russia.
The proposed sanctions package, which is expected to be formally put forward by the EU Commission in late January, would aim to be implemented in February, marking the third anniversary of the war's beginning. This move follows the precedent set by the United States and Britain, which earlier this year banned imports of metals originating in Russia. However, the EU initially resisted similar measures due to opposition from some member states, including France.
"We do not have any position on this issue but we'll study all proposals on the table," said a spokesperson for France's representation to the EU.
The EU has so far only banned specific aluminium products, such as wire, tubes, and foil, representing less than 15% of total EU aluminium imports. The new proposal suggests broader restrictions on Russian-origin aluminium, a significant portion of which is still imported by the EU.
The prospect of sanctions or punitive tariffs on Russian metals may be gaining traction as EU imports of primary aluminium from Russia have declined. Between January and September, EU imports of primary aluminium from Russia fell to around 6% of total imports, down from 11% in the same period last year and 20% in 2022, according to Trade Data Monitor.