Banning Russian aluminium is counterproductive amid high energy costs
Tom KirkmanIndependent Project Manager
Um, guise, the cost of producing aluminum in most Western countries has become increasingly prohibitive, due to skyrocketing energy costs.
Banning Russian aluminum seems counterproductive somehow, but that’s just me.
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“The Biden administration’s economic war against Russia could soon be stepped up a few notches as Bloomberg reports the White House is considering a complete ban on Russian aluminum.
People familiar with the matter said the White House is reviewing three options: an outright ban, expanding tariffs to levels that would impose an effective ban, and or sanctioning the country’s top metal producer, United Co. Rusal International PJSC.
Whatever route the White House takes against Russia could have severe consequences for global metal markets, forcing customers in the US, Europe, and elsewhere into a panic to source replacement metal.
LME aluminum prices jumped as much as 7% on the news.
… Meanwhile, US/EU sanctions against Russia to limit energy flows into global markets have backfired. …”