Hindalco, Nalco shares rise up to 4% as EU sanctions aluminium imports from Russia

Hindalco, Nalco shares rise up to 4% as EU sanctions aluminium imports from Russia

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26 Aug, 2025 12:21

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Shares of Hindalco, Nalco jumped up to 4% on February 19 as European Union envoys agreed on the sixteenth package of sanctions against Russia.

Sanctions include a Russian primary aluminum import ban and listing of 73 new shadow fleet vessels. The sanctions come days ahead of the third anniversary of Russia-Ukraine conflict.

At 1:45 pm, Nalco shares were trading 4% higher at Rs 186.78 apiece while Hindalco shares on BSE were trading 2% higher at Rs 624.55 apiece.

Additional transit restrictions are expected on, for example, certain flat-rolled products of alloy steel, certain machine tools, and certain automotive parts and accessories.

At 1:45 pm on February 19, Tata Steel shares were trading 1% higher at Rs 135.8 apiece.

The aluminium import ban will be phased in a year from the official adoption of the package, which also adds 48 individuals and 35 entities to its sanctions list that includes asset freezes and a travel ban.

Progress on the latest EU sanctions comes after U.S. President Donald Trump's administration said on Tuesday it had agreed to hold more talks with Russia on ending the war in Ukraine after an initial meeting that excluded Kyiv - a departure from Washington's previous approach that rallied U.S. allies to isolate Russian President Vladimir Putin.

The EU along with other Western powers has been ratcheting up restrictions in recent months to squeeze Russia's oil exports. In addition to the vessels, the envoys agreed to prohibit transactions with ports and airports in Russia used to circumvent the Group of Seven price cap on Russian oil.

Sales of video game consoles, joysticks and flight simulators would also be restricted as they could be used by Russia's military to control drones, an EU diplomat said.

Other bans include exports of chromium and certain chemicals as well as a service ban for oil and gas refineries.