The European Commission has proposed the 21st sanctions package against Russia, focusing primarily on energy revenues, the financial sector and sanctions-circumvention networks, while introducing new trade restrictions affecting certain metals, alloys and metal ores, Kallanish notes.
In a statement released on Tuesday, European Commission President Ursula von der Leyen says the package would introduce additional export restrictions on metals and alloys used by Russia’s aerospace and defence industries, alongside new import bans covering certain metals and metal ores.
“We are targeting more metals and alloys used in the aerospace and defence sectors,” von der Leyen states. She adds that the proposed import restrictions are intended to “lock in Europe’s diversification away from Russian imports”.
The commission does not specify which metals, alloys or ores would be affected by the publication deadline. The proposed measures form part of a broader package covering goods worth around €60 million ($69.2m), including certain metals, metal ores and automotive parts.
The sanctions package’s main measures target Russia’s oil revenues and financial system. The commission proposes adding 30 more vessels to the sanctions list, restricting sales of LNG tankers to Russia, targeting infrastructure involved in Russian oil trade, expanding transaction bans to 31 additional Russian banks, and imposing measures on third-country banks, crypto firms and oil traders accused of helping Russia circumvent existing sanctions.
The proposal will require approval from EU member states before entering into force.
Author: Elina Virchenko
