Aluminum Exports to Russia Banned: What Consequences Will This Sanction Have for the RF?

Australia will continue to impose costly sanctions against Russia. This was reported on the website of the Australian Department of Foreign Affairs.

“As of today, we have imposed a total of 476 sanctions against 443 individuals (including many close oligarchs of President Putin) and 33 organizations (including most of the banking sector in Russia and all organizations responsible for Russia's sovereign debt). The government has implemented an immediate ban on the export of aluminum oxide and aluminum ore (including bauxite) to Russia, which will limit its production capacities for aluminum, an essential export commodity for Russia.

Aluminum is a global raw material used in the automotive, aerospace, packaging, machinery, and construction sectors, and it is also a crucial raw material for the weapons industry. Russia relies on this raw material for 20 percent of its demand for aluminum oxide, which is imported from Australia.

The Foreign Minister has imposed the export ban as part of Australia’s independent sanctions against Russia. The government will continue to work closely with exporters and relevant bodies involved in the ban to seek new markets and expand current ones,” stated the message from the Australian Department of Foreign Affairs.