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.

Separate from LNG, the sanctions package will propose penalties on more aging oil-exporting tankers operating as part of Russia's so-called shadow fleet, the diplomats added. The EU will target 74 new vessels, two other EU diplomats said.

The European Union renewed its wide-ranging sanctions on Russia on Monday for another six months after Hungary stopped holding up the move in return for assurances about energy security. "Europe delivers: EU Foreign Ministers just agreed to extend again the sanctions on Russia,

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.