Despite the Ukraine war, the EU and the USA are importing more Russian industrial metals
London the European Union (EU) and the United States have according to trade data despite the Ukraine war their imports of key industrial metals Russia significantly increased. As from information compiled by Reuters from the United Nations international database comtrade shows that the EU and the US imported up to 70 percent more aluminum and nickel from March to June compared to the same period last year.
The total import value of these two metals during the period was $1.98 billion. Prices for these two metals hit record highs shortly after the start of the Ukraine war on February 24th.
The West has because of the Russian invasion of the Ukraine Sanctions imposed on various Russian products, people and facilities, but largely omitting industrial metals. With the punitive measures against Russia, the EU and the USA want to dry up Moscow’s sources of income for financing the war.
Russia is one of the countries with the richest deposits of raw materials. In addition to the energy sources oil, natural gas and coal, the country has important mineral resources such as iron ore, nickel, copper, aluminum and gold.
Top jobs of the day
Find the best jobs now and
be notified by email.
More: Companies cut production – “High uncertainty clouds prospects”