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The US Government is considering a ban on aluminium imports from Russia due to Moscow’s invasion of Ukraine, as reported by Bloomberg News.
The commodity is used by most heavy industries for a range of applications, including automobiles and skyscrapers.
The move comes in response to Russia’s recent missile attacks on Kyiv and other Ukrainian cities, which have damaged civilian sites and key infrastructure.
In response to Russia’s actions against Ukraine, the Biden administration is considering three options – a complete ban, sanctions on Russian aluminium producer United Co. Rusal International or increasing tariffs to levels that would imply an effective ban.
Russia’s aluminium supplies traditionally account for about 10% of the commodity’s total imports in the US.
Data have shown that the country was the third-largest exporter of aluminium to the US in August this year.
At the start of the war in February, the US held off on sanctioning aluminium from Russia due to concerns that it could disrupt global supplies.
Russian companies such as Rusal have said a potential ban would destabilise global metal markets, according to Bloomberg News.
The fund will support front-end engineering design (FEED) studies to produce rare earth elements and other critical minerals and materials (CMMs) from abundant coal-based resources.
US Energy Secretary Jennifer Granholm said: “By producing rare earth elements and critical minerals here at home, we’ll create good-paying jobs while enhancing national security and securing the supply chains we need to reach net-zero carbon emissions by 2050.”