It is reported that the ban is planned to be introduced against the backdrop of a shortage of these metals on the market.
Thus, copper prices in 2026 reached record highs against the backdrop of high demand and limited supply around the world.
As Bloomberg pointed out, the new EU restrictions, in particular, may affect the largest Russian mining and metallurgical company, Norilsk Nickel, which has not previously been subject to sanctions.
In addition, the EU is considering the possibility of replacing price restrictions on Russian oil with a ban on its maritime transport.
Context
The European Union has already introduced 19 sanctions packages, the last of which was approved by the EU Council on October 23, 2025. It included restrictions against Russian banks and crypto exchanges, as well as individual entities in India and China. In addition, the EU restricted the movement of Russian diplomats, introduced new measures on the oil and gas and financial sectors of the Russian Federation, its “shadow fleet”, and also banned the import of Russian liquefied natural gas.
On November 2, the head of the Ukrainian state, Vladimir Zelensky, said that Ukraine was participating in the preparation of the 20th package of sanctions and had already proposed adding to it Russian legal entities and individuals who continue to make money from energy resources. Also, according to him, there will be an update regarding the kidnappers of Ukrainian children.
The media wrote that the European Union intends to present the 20th package of sanctions against the Russian Federation by February 24, the fourth anniversary of the start of a full-scale war.
On February 2, EC head Ursula von der Leyen informed Zelensky about the finalization of the 20th package of sanctions against the Russian Federation.
