The European Union Approves a New Sanctions Package Against Russia

The Twenty-Seven approved a sixteenth package of sanctions against Russia on Wednesday in response to the Russo-Ukrainian conflict, which notably includes a ban on the import of Russian aluminum into the European Union (EU).

This sanctions package, validated by the ambassadors of the 27 member states in Brussels, is set to be officially adopted on Monday by the EU’s foreign ministers. According to diplomatic sources, these measures also aim to limit Russian oil exports.

“We are determined to maintain pressure on the Kremlin,” stated Ursula von der Leyen, President of the European Commission, on social media platform X, as she welcomed the announcement.

This new package primarily targets the captains and owners of so-called “ghost ships” that export Russian oil—practices used to circumvent Western price caps on Russian oil exports, as noted by the EU.

Russian aluminum imports have dropped by 35% in 2023, a trend expected to continue into 2024, according to European Aluminium, which represents the sector in the EU. This industry had generated approximately 1.25 billion euros for Russia in 2023.

“We know that the sanctions are working effectively,” emphasized Polish Finance Minister Andrzej Domanski on Tuesday, whose country currently holds the presidency of the EU Council.

For nearly three years, the EU has already implemented 15 packages of sanctions targeting individuals and entities in Russia. These individual sanctions include asset freezes and travel bans within the EU.