EU proposes Russia pig iron sanctions: reports

The draft of the EU’s 12th package of Russia sanctions proposes import restrictions on Russian pig iron alongside other commodities, according to reports from BloombergPolitico as well as Russian media.

European Commission spokesperson Daniel Ferrie confirmed to Kallanish the Joint Proposals from the Commission and the High Representative as part of the proposed 12th sanctions package have been adopted by the Commission. However, the Commission did not comment on the inclusion of pig iron in the new sanctions package.

Commission President von der Leyen recently stated that the upcoming package will introduce new import and export bans, efforts to strengthen the oil price cap, and stringent measures targeting third-country companies that attempt to bypass the sanctions. Furthermore, the package intends to diminish the remaining revenue that Russia earns from exporting diamonds to Europe and associated partners.

It is now for Member States to adopt the package, including proposals from the High Representative, by unanimity, Ferrie added.

According to reports, the proposals also include restrictions on copper wire, aluminium wire, foil, tube, pipe, and liquefied propane.

The Commission has also introduced a proposal to prohibit the export of machine tools and machinery parts to Russia, intended for the production of weapons targeting Ukraine. Additionally, the EU aims to extend its list of restricted goods related to Russia’s military efforts against Ukraine, encompassing chemicals, lithium batteries, thermostats, motors, and servomotors used in drone technology, according to reports.

The proposed measures, if approved, would also expand the list of restricted entities to include over 30 companies. This list would comprise firms from various regions, including Kazakhstan, Uzbekistan, Singapore, and several Russian machine-building companies.

Elina Virchenko UAE