US: Russian aluminum industry plays major role in war against Ukraine – Technology Org
The United States has just adjusted its imports of Russian aluminum by imposing a 200 percent ad valorem tax tariff on so-called primary aluminum and aluminum articles manufactured in the Russian Federation.
US President Joe Biden has just signed a proclamation according to which the new imports-related change will come into effect starting from March 10, 2023.
Starting from April 10, 2023, an identical tariff will also be applied to derivative aluminum products containing any amount of aluminum produced in Russia.
Russia continues its unjustified, unprovoked, unyielding, and unconscionable war against Ukraine. The Russian aluminum industry is a key part of Russia’s defense industrial base and has played a major role in supplying Russia with weapons and ammunition used in the war. In addition, Russia’s war against Ukraine has caused global energy prices to rise, causing direct harm to the United States aluminum industry,” reads the decree.
According to the White House, Russia’s aluminum industry is extremely export-oriented. Just 22% of all aluminum produced in this country is used in the domestic market. The rest is sold to foreign nations while helping the Russian Federation to fund the invasion of Ukraine.