Ban on the import of Russian aluminum
- The sanctions apply to unprocessed aluminum, which accounts for 85% of aluminum exports from Russia to the EU.
- The EU has previously banned the import of aluminum wire, foil and pipes.
- In 2022, Russian aluminum accounted for 19% of imports to the EU, in 2023 - 11%, and in 2024 in the first nine months - only 6%.
- The EU compensated for the reduction in supplies by imports from the Middle East, India and Southeast Asia.
- At the same time, Russia has increased its aluminum exports to China, the largest consumer of this metal.
- After reports of possible restrictions, Rusal shares fell by 2.5%.
- The ban on Russian aluminum follows similar measures in the United States and Great Britain.
- Aluminum, due to its lighter weight compared to steel, remains in demand in the aircraft, automotive and other industries.
- The EU will impose sanctions on 13 more Russian banks.
- The ban will include 73 “shadow fleet” vessels, which, according to the EU, are used to circumvent restrictions on the export of Russian oil.
- Also included in the sanctions list are new companies and individuals that the EU believes are involved in supporting the hostilities.
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