UK Prime Minister Rishi Sunak announced new sanctions against the Russian mineral sector, with bans on imports of aluminum, copper and nickel in order to stifle Moscow’s ability to finance itself and thus sustain the war in Ukraine.
“As the announced sanctions demonstrate, the G7 remains united in the face of the threat from Russia and steadfast in our support for Ukraine.”
stated British Prime Minister Rishi Sunak during the G7 summit in Hiroshima, Japan. In addition, 300 sanctions will be applied against diverse and varied targets, “individuals, organizations, ships and aircraft”, in Europe, the Middle East and Asia.
Specifically, the United States will ban U.S. exports to 70 entities in Russia and other countries. A package of sanctions intended to prevent Russia from continuing to feed its war machine and to eliminate part of its sources of war funding. Western countries have also applied an unprecedented series of sanctions against Russia since the invasion of Ukraine in February 2022, to affect that country economically by reducing revenues generated by hydrocarbons and disrupting its defense industry. The UK government is also considering action against 86 other individuals and companies with sanctions that have connections to Vladimir Putin.
The main concern now is to prevent Russia from circumventing these sanctions. The measures include Russian imports of aluminum, copper and nickel, which will finally be blocked under new legislation to be introduced at the end of 2023.
United States considers tariffs on Russian aluminum
ALCOA PLANS TO LOBBY IN THE UNITED STATES TO PREVENT IMPORTS OF RUSSIAN ALUMINUM
RUSSIA’S OCHAKOVO INCREASES ITS SOFT DRINK CANNING CAPACITY
U.S. AND UNITED KINGDOM WILLING TO NEGOTIATE TO RESOLVE DISPUTE OVER STEEL AND ALUMINUM TARIFFS
LONDON METAL EXCHANGE BANS STORAGE OF RUSSIAN ALUMINUM IN ITS WAREHOUSES
BALL ANNOUNCES THAT IT WILL SUSPEND ANY FUTURE INVESTMENT IN RUSSIA
AUSTRALIA CANCELS BAUXITE AND ALUMINA EXPORTS TO RUSSIA
UNITED KINGDOM IMPOSES 35% TARIFF ON STEEL AND ALUMINUM IMPORTS FROM RUSSIA AND BELARUS
HYDRO CANCELS CONTRACTS WITH RUSSIAN COUNTERPARTS
AGRUPAL PREDICTS TRADE WAR IN THE EVENT OF A CONFLICT WITH RUSSIA
