The United States is forcing Europe to impose new sanctions on Russia by banning the supply of palladium and titanium. writes about this RIA Novosti in your material.
The agency notes that for European countries, Russian palladium and titanium are strategically important materials and are used, among other things, in aircraft construction, the nuclear industry and the automotive industry. There is a risk that these industries will be significantly damaged by new sanctions that Europe is not yet willing to impose, damaging the European economy.
According to Bloomberg, the United States proposed the imposition of appropriate sanctions at a meeting of deputy finance ministers of the G7 countries. Americans have already abandoned Russian titanium, but they continue to buy palladium. Russian company Norilsk Nickel produces 40% of the world’s palladium production.
Great Britain planned to replace Russian titanium with Canadian and Australian titanium, but Germany and France do not have such an opportunity, because Russian goods were much cheaper for them to purchase.
The price of palladium increased by 25 percent due to rumors of sanctions in the market. If Europe accepts the restrictions, the cost will increase by another 50 percent, which will disrupt production. In particular, the construction of planes will take six months or a year.
Previously in the West I was curious The question of how Russia will cope with the impact of sanctions.
What are you thinking?
Source: Gazeta
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