"Shadow fleets, banks, and aluminum: the EU is preparing new sanctions against Russia."

The European Union is proposing a phased ban on the import of Russian aluminum as part of the 16th sanctions package ahead of the third anniversary of Russia's invasion of Ukraine.

This is reported by Bloomberg citing its own sources.

According to the publication, the new package also includes sanctions that will disconnect more banks from the SWIFT banking system, and measures against over 70 vessels of the "shadow" fleet involved in transporting Russian oil.

It is noted that the new sanctions package will allow European buyers to import 275,000 metric tons of Russian aluminum under a quota system over one year before the full ban takes effect.

Import quotas will be controlled by member states and the EU executive body. These plans will require support from all member states and may change before their official submission.

In addition, the EU proposes to ban the temporary storage of Russian oil within the bloc, expand restrictions on Russian aircraft and those controlled by Russia, as well as prohibit operations with a large number of Russian ports and airports used for transporting weapons and banned parts needed for their production.

Other proposals suggest restrictions on three Russia-controlled banks abroad, as well as organizations outside the country that utilize Russia's equivalent SWIFT system.

Moreover, there are plans for more restrictions on software, hardware, and other technologies used in weapon systems, as well as sanctioning dozens of companies, including many firms in China, Turkey, and other countries that have helped Russia circumvent EU measures.

Background. Previously, Mind reported that China and India halted purchases of Russian oil following sanctions against Russia's shadow fleet. In place of Russian oil, Asian countries are sourcing oil from Kazakhstan.