EU members call for tougher sanctions against Russian metals

Ten European Union countries have suggested more sanctions against Russia, focussing on the sale of Russian commodities such as aluminium, in order to limit Moscow's earnings even further.

Source: Reuters with reference to the letter signed by 10 EU member states, as reported by European Pravda

Details: According to Reuters, Poland, which will take over the EU Council's six-month presidency from Hungary in January 2025, has called for more sanctions targeting Russian metals.

Other signatories to the letter include the Baltic countries, Denmark, Ireland, Romania, Sweden, Czechia, and Finland, according to the journal.

Quote: "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 said.

In contrast to the United States and the United Kingdom, the EU has not yet implemented sanctions on Russian metal companies such as Rusal or restricted imports of Russian-made metals.

Background: 

• So far, the EU has prohibited just Russian aluminium products, specifically wires, pipes, and foil, which account for less than 15% of total European aluminium imports.
• Although most EU metal customers have discovered alternate sources of supply from other countries, such as copper from Peru and Serbia, the EU continues to import considerable volumes of Russian-made aluminium.
• On 16 December, the Council of the European Union adopted the 15th package of economic and individual restrictive measures, which included North Korean officials and Chinese suppliers of drone kits.
• The sanctions package includes 54 individuals and 30 organisations. The EU said that these measures are designed to counteract the circumvention of EU sanctions by targeting Kremlin leader Vladimir Putin's shadow fleet and to weaken the Russian defence industrial base.

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