White House mulling ban on Russian aluminum: reports

Reported by Washington Times:

President Biden is considering a ban on Russian aluminum imports in response to the Kremlin’s military escalation in Ukraine, according to reports.

The move, which has not been finalized, would reverse the White House’s previous restraint in targeting Russian aluminum over concern that doing so would boost prices for a range of consumer products and likely send shock waves through global markets.

The administration is considering a range of options including an outright ban, raising tariffs to impose a de facto ban or sanctioning Russian metal producer United Co Rural International PJSC, Bloomberg reported Wednesday, citing people familiar with the decision.

Russia is the world’s second-largest producer behind China, accounting for 6% of the global aluminum supply.

Russia supplies the U.S. with approximately 10% of its aluminum, which is used in products ranging from smartphones to aircraft.

Russia has unleashed a barrage of cruise missiles and armed drones that tore through neighborhoods in Kyiv, the Ukrainian capital, that for months had been largely spared from the heavy fighting since the battlefront shifted to the east. Attacks were also carried out in several other cities as far west as Lviv, some 40 miles from the Polish border.

Mr. Biden called the attacks “beyond the pale,” and pledged continued U.S. support as Russia escalates its bloody war in Ukraine.

Source:Washington Times