EU, US step up Russian aluminum, nickel imports since Ukraine war. ukraine Russia
The European Union and United States have ramped up buying key industrial metals from Russia, data showed, despite logistical problems spurred by the war in Ukraine and tough talk about starving Moscow of foreign exchange revenue.
The West has imposed repeated waves of sanctions on a wide range of Russian products, people and institutions, but has largely spared the industrial metals sector.: “Although we don’t preview our sanctions actions, nothing is off the table to increase the price on Putin’s unjustified war against Ukraine.
“We know from commodity traders it’s mainly a question of the price. It’s not so much about some politician not wanting you to buy, but is there a deal here.”Russia’s Rusal is the world’s largest aluminum producer outside China and accounts for about 6% of estimated world production. On Tuesday, a division of Norway’s Norsk Hydro said it would exclude Russian metal from deals to buy aluminum for 2023.
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