CRU Aluminum: Geopolitics, Sustainability Goals Could Alter 2024 Trade Flows

European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission’s proposed 12th package of sanctions against Russia. This includes a ban on certain aluminum products like wires, tubes, pipes, and foil. However, the association urges the EU to adopt a more rapid and comprehensive approach to restrict Russian aluminum imports. The proposed sanctions cover only 12% of EU imports of aluminum products from Russia (HS 76), which the association deems insufficient for a meaningful impact. European Aluminium calls for future sanctions to include strong anti-circumvention measures to prevent the evasion of sanctions through imports from third countries.

While acknowledging the importance of the initial sanctions, European Aluminium encourages the EU to broaden its scope to cover all major product categories, including ingots, slabs, and billets, which constitute over 85% of the EU’s imports from Russia. Paul Voss, director-general of European Aluminium, emphasized the need for the EU to accelerate efforts in diversifying supply and boost domestic production capabilities. He highlighted the industry’s proactive steps in reducing reliance on Russian aluminum and called for a focus on expanding and safeguarding primary aluminum production and recycling operations to meet Europe’s growing demand for aluminum and to ensure strategic autonomy.