The European Commission has proposed Russian primary aluminium imports be included in its 16th package of sanctions on Russia over its invasion of Ukraine, the proposal document seen by Reuters showed.

The E.U. is considering disconnecting around 15 Russian banks from the international SWIFT banking system as part of its 16th sanctions package against Russia, Bloomberg reports, citing sources familiar with the matter.

European Union foreign ministers agreed on Monday to extend sanctions on Russia over its war against Ukraine after Hungary lifted its opposition to the move.Budapest had been stalling the decision since December when Prime Minister Viktor Orban told EU leaders he wanted to wait for Donald Trump’s inauguration before deciding whether to agree to roll over the restrictions.

The European Union is preparing a broad sanctions package ahead of the third anniversary of Russia's invasion of Ukraine. The 16th package will target banks, aluminum, and shadow fleet vessels, Bloomberg reports.

The European Union is proposing a gradual ban on imports of Russian aluminium as part of a large-scale package of sanctions ahead of the third anniversary of the Kremlin's full-scale invasion of Ukraine.