EU to Ban Russian Aluminium Imports, Gwangyang Deliveries Reportedly From Russia

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In a move to counter Russia's invasion of Ukraine, the European Union (EU) has decided to ban imports of aluminium from Russia. This ban will significantly impact the Russian aluminium industry, which relies heavily on exports to the EU.

EU Sanctions Target Russian Aluminium

The EU's ban on Russian aluminium is part of a broader package of sanctions imposed on Russia following its invasion of Ukraine. The sanctions aim to cripple the Russian economy and pressure the Kremlin to end its aggression.

The EU's ban on Russian aluminium will prohibit the import of all forms of aluminium from Russia, including primary aluminium, aluminium alloys, and semi-finished aluminium products.

Gwangyang Deliveries Reportedly From Russia

In a related development, it has been reported that the recent deliveries of aluminium to the Gwangyang aluminium smelter in South Korea originated from Russia. This aluminium is believed to have been supplied by Glencore, a Swiss-based commodities trading company that has a long-term off-take deal with Russian aluminium producer Rusal.

If confirmed, these deliveries would represent a violation of the EU's ban on Russian aluminium.

Impact on Russian Aluminium Industry

The EU's ban on Russian aluminium is expected to have a significant impact on the Russian aluminium industry. Russia is the world's second-largest producer of aluminium, and the EU is its largest export market.

The ban will likely lead to a decline in Russian aluminium production, as well as a drop in aluminium prices.

Conclusion

The EU's ban on Russian aluminium is a significant development that will have far-reaching implications for the global aluminium industry. The ban is likely to lead to a decline in Russian aluminium production, as well as a drop in aluminium prices.

The situation remains fluid, and further developments are expected in the coming days and weeks.