The European Commission intends to propose a ban on imports of Russian primary aluminium in its 16th package of sanctions against Russia over its invasion of Ukraine, European Union diplomats said on Tuesday, Reuters reports.
EU countries hope to pass a 16th package of restrictions in February to mark the third anniversary of the war.
The Commission held informal meetings with EU countries on Tuesday to discuss details of the forthcoming package, the sources said. One source added that the ban would be phased in.
So far the 27-member bloc has banned aluminium products including wire, tubes and foil. These amount to less than 15% of EU imports of the metal used in the transport, packaging and construction industries. Significantly lighter than steel, aluminium is now the metal of choice in a wide range of parts for electric vehicles.
LME benchmark aluminium touched its highest in nearly a month at $2,602 a ton after the news but later gave up gains and was down 0.1% at $2,576.50 by 1715 GMT.
The EU's imports of Russian primary aluminium have fallen over the past two years. Between January and October last year, the EU imported more than 130,000 metric tons of primary aluminium from Russia, or about 6% of the 2.2 million ton total, according to information provider Trade Data Monitor.
