The European Union will propose a gradual ban on imports of Russian aluminum In the context of a wide beam sanction In view of the third anniversary of the Kremlin invading Ukraine, according to Bloomberg agency, citing people with knowledge of the issue.

The package – which was released among the Member States this week – also suggests sanctions that will cut out more Russian banks from the Swift banking system, as well as actions targeting more than 70 dark fleet ships involved in the transport of Russian oil. The same sources.

The sanctions package would allow European buyers to import 275,000 metric tones of the Russian metal within a quota system for a period of one year, before the full prohibition comes into force, according to a document seen by Bloomberg. Import volume quotas will be managed by the Member States and the EU executive arm, the document said. The plans will require the support of all Member States and could change before being officially nominated to the members, the agency sources said, who spoke on the condition of anonymity.

The EU introduced about 320,000 tonnes of raw aluminum from Russia in the first 11 months of 2024, accounting for 6% of total imports, according to UN Comtrade data. Meanwhile, missions to China have increased significantly.