On February 19th, the European Union agreed to impose a new round (the 16th round) of sanctions against Russia. Although the United States is in negotiations with Russia, the EU hopes to continue applying pressure.

The new sanctions include a ban on the import of primary aluminum from Russia. Previously, unprocessed aluminum from Russia accounted for about 6% of the EU’s total aluminum imports. The EU has already prohibited the import of certain aluminum finished products from Russia, but the new round of sanctions expands the ban to cover primary aluminum, regardless of whether it is imported in the form of ingots, slabs or billets.

In addition to primary aluminum, the latest round of sanctions also expands the blacklist of Russia’s “shadow fleet” tankers. 73 ships, shipowners and operators (including captains) suspected of belonging to the “shadow fleet” have been added to the blacklist. After this addition, the total number of ships on the blacklist will reach more than 150.

Furthermore, the new sanctions will lead to the removal of more Russian banking institutions from the SWIFT electronic system.

It is expected that the EU Foreign Ministers’ Meeting to be held in Brussels on Monday, February 24th will formally adopt these sanctions.