A tripling of import prices for Russian aluminum is also helping workers in the U.S. metals industry, according to the U.S. Commerce Department. A major American aluminum producer, Alcoa, responded enthusiastically to the move. “We continue to support sanctions as an effective government tool to take action against Russia and play with American producers.”
Russia is one of the world’s largest aluminum producers, accounting for just 4 percent of all aluminum imported into the United States last year. News of the import duties did not immediately boost aluminum prices in commodity markets. According to analysts, Russian aluminum exports to other countries will continue for the time being.
US embargo list
Last fall, five European trade associations for the metals sector argued against an import ban on Russian aluminum in the EU. They argued that the metalworking industry would cost more jobs.
The US on Friday added MTS Bank to its sanctions list over the war in Ukraine. This Russian bank also operates in the United Arab Emirates. Additionally, Credit Bank of Moscow, one of Russia’s ten largest banks, was blacklisted. In addition, 250 people, including some Germans and Swiss, were added to the sanctions list for allegedly providing Western technology to Russia.
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