The ban is being considered in response to massive missile attacks on Ukraine by the Russian Federation.
The Biden administration is considering a complete ban on Russian aluminum. The decision is planned to be made in response to the escalation of hostilities by the Russian Federation in Ukraine — missile attacks on Kyiv and other Ukrainian cities that damaged key infrastructure and civilian objects.
Russian aluminum For a long time, it was out of US sanctions due to its importance, because this metal is used in many types of production: from cars and skyscrapers to iPhones. Russia is the world's second largest producer of aluminum after China.
However, currently, according to Bloomberg sources, the White House is considering three options: a direct ban, raising tariffs to a level that would actually correspond to the ban, as well as sanctions against Oleg Deripaska's Rusal company, which produces aluminum.
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Such a step will have large-scale consequences for the global aluminum market, because consumers in the US and other countries will be forced to look for a replacement supplier.
In response to the information about the potential ban, the world price of aluminum jumped: on the London Metal Exchange, this metal rose in price by 7.3%. American manufacturer Alcoa Corp. jumped by as much as 8.6%, and the trading of the American manufacturer Century Aluminum Co. stopped after the sudden increase.
A White House official said all options were being considered, but there was no immediate question of imposing sanctions. The discussion in the White House has been going on for several weeks.
Read also: Candy, ammunition, wood, oil and metal: the US continues to buy $1 billion worth of goods from Russia every month – AR
The West has repeatedly introduced waves of sanctions against Russia, but for the most part has not touched the industrial metals sector .
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