News and Opinion: October 12, 2022. United States is Considering a Ban on Russian Aluminum

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United States is planning to further sanction Russia by banning the purchase of its aluminum. The White House is considering the following three options: a direct ban, an increase in tariffs to levels that would de facto be a ban, and sanctioning , United Co. Rusal International PJSC, the main Russian aluminum producer.

As a reaction to the plan, the aluminum price increased by 7%. the shares of Alcoa, the main US producer, jumped 8%.

Aluminum is a very important industrial metal. Sanctioning it, will probably go the same way as oil or natural gas.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
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