Aluminum price rallies with possible EU ban on Russian supplies
Kremlin says EU sanctions on Russian aluminum would risk destabilizing a ‘fragile’ global market.
The Kremlin said on Wednesday that European Union sanctions on imports of Russian primary aluminum would risk destabilizing an already ‘fragile’ global market.
Reuters reported on Tuesday that the European Commission intends to propose a ban on imports of Russian primary aluminum in its 16th package of sanctions against Russia over its war in Ukraine.
“We saw the news. It is quite possible to assume that such discussions are going on. The market in this segment is fairly fragile and such decisions could hypothetically lead to the destabilisation of the global market,” Kremlin spokesperson Dmitry Peskov told reporters.
Russian aluminum giant Rusal, the world’s largest aluminum producer outside China, did not provide an immediate comment.
(By Dmitry Antonov, Anastasia Lyrchikova and Maxim Rodionov; Editing by Andrew Osborn)
Read More: Aluminum price ticks higher with possible EU ban on Russian supplies
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