European aluminum producers are demanding that the EU impose an embargo on imports of the metal from russia as part of a new package of sanctions against russia. This was reported by Politico, UNN .
Details
Therefore, the EU Aluminum Producers Association is calling on Brussels to completely stop imports from russia, stating that producers have already "accelerated" their adaptation to the new market conditions.
European aluminum producers hope that sanctions against russia, which remains the world's third-largest aluminum producer, will help to reduce energy prices.
However, EU diplomats told Politico that it is unlikely that a complete ban on the metal will be introduced before February 24. The publication's sources believe that this proposal from the Baltic states and Poland is likely to face opposition from industrial countries such as Italy, which resist measures that could lead to higher prices.
Despite the fact that four EU countries are on their side, the issue is out of the control of aluminum producers, as member states are engaged in negotiations that are severely time-limited
Addendum
The publication noted that even two years after russia launched a full-scale offensive against Ukraine, Europe still buys 9% of its aluminum imports from russia,
Previously, this made it possible to finance the Kremlin's military machine to the tune of approximately €2.3 billion in 2022.
At the same time, European industrial consumers also oppose sanctions on aluminum. As the EU industrial consumers group FACE stated in December, this would be "a kind of economic tactical nuclear bomb".
On behalf of the Italian, German, and other EU industries, she noted that "sanctions should not become a weapon.
Recall
Reuters has found out that the new package of sanctions against russia that the EU plans to impose on the second anniversary of the full-scale invasion does not include new import bans on aluminum, among other things.