In particular, the two largest aluminum producers in the Russian Federation were targeted by sanctions
The UK's new sanctions against Russia, announced late last week, target producers of aluminum, copper and steel products, S&P Global reports.
The British government has included two of Russia's largest aluminum producers – the Samara and Kamensk-Ural steel plants – on the sanctions list. However, these measures are not expected to have a significant impact on the market, as the UK has previously banned imports of certain metals originating in or from Russia, including copper, aluminum and nickel.
In 2022, the United Kingdom imported 12,600 tonnes of Russian aluminum and approximately 41,000 tonnes in 2019.
According to the British Foreign Office, the new lockdown restrictions also apply to a number of representatives of the Russian steel industry. Sanctions were imposed on the co-owners of the Ural Mining and Metallurgical Company (UMMC, producer of copper and zinc), the United Metallurgical Company (OMC, steel pipes) and Mechel (which produces special steels and alloys).
In May last year, the United Kingdom imposed sanctions directly against the WTO and Mechel's main asset, the Chelyabinsk Metallurgical Plant.
As Compraço previously reported, at the end of last week, the United States announced that it had updated the Russian business segment of the SDN List (a list of individuals and entities subject to sanctions). From February 23, sanctions restrictions were extended to the Pipe Metallurgical Company, Russia's largest producer of pipe products, and several of its subsidiaries. Metalúrgica Samara was also subject to restrictive measures.
