A new EU sanctions package could affect Russian metals supplies and tighten restrictions on oil transportation.
The European Union is considering introducing restrictions on imports of copper, platinum, iridium and rhodium from Russia.
This measure, as Bloomberg writes, could become part of a new, 20th sanctions package.
If the new package is approved, restrictions could be imposed on PJSC Norilsk Nickel Mining and Metallurgical Company, the largest Russian company in the industry, which has not previously been subject to direct sanctions.
According to the agency, the discussion is taking place against the backdrop of a shortage of these metals on the global market.
Furthermore, the EU is exploring the possibility of replacing the current price cap on Russian oil with a ban on seaborne shipments of petroleum products from Russia. Bloomberg sources note that there is currently no consensus among EU member states on this issue.
Implementation of such a decision would mean a ban on European companies providing services necessary for the transportation of Russian oil, including insurance and vessel chartering. This ban, according to the proposal, would apply regardless of the price at which the oil is sold.
At the end of January, the head of European diplomacy, Kaja Kallas, announced that the EU plans to introduce new sanctions against Russia on February 24 – the fourth anniversary of the start of the military operation in Ukraine.
The EU Council previously approved Russia's inclusion on the list of countries with a high risk of money laundering. This decision provides for enhanced scrutiny of financial transactions related to Russia, including more frequent document requests and the possibility of suspending transfers.
The EU's 19th sanctions package against Russia was approved last October. At that time, restrictions affected a number of banks and electronic payment systems, including financial institutions from third countries, Russian industrial enterprises, and companies registered in China, Thailand, and India.
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