An embargo would likely disrupt industry and lead to massive company closures, the organizations say
Five industry associations have called on the EU to prevent a possible ban on Russian aluminum, which they say could decimate industry across the bloc, Reuters reported on Monday, citing a statement by the groups.
The Federation of Aluminum Consumers in Europe, the German Federal Association for Economic Development and Foreign Trade, the Italian Foundry Suppliers’ Association, the Italian National Association of Steels, Metals, Scrap, Hardware, and the Italian Foundry Association have said in a statement that sanctions on the Russian metal could put thousands of companies out of business.
In a joint letter to the EU authorities they “requested the urgent intervention of the European Commission and of EU member states against threats of bans, high tariffs or sanctions on Russian aluminum which represent an imminent and vital threat to the European…
