Australia bans sale of aluminum ore to Russia
20 March 2022
Australia has banned the sale of alumina and aluminum ores, including bauxite, to Russia to limit Russia's ability to produce aluminum, Russia's main export and a critical component of arms and ammunition, Report informs citing The Guardian that the Australian government did this in response to what it called Russia's "unrelenting and illegal aggression” against Ukraine.
Prime Minister Scott Morrison announced that Australia would donate coal and further military equipment to Ukraine to “support the brave and courageous resistance” as part of a new aid package that also includes $30m in emergency humanitarian assistance.
Russia satisfies its demand for alumina by 20% at the expense of Australia.
Australia will look for new markets for these products. Meanwhile, the sanctions may affect the Australian-British concern Rio Tinto Group, which ranks third in the global mining sector.
The concern owns an 80% stake in Queensland Alumina in a joint venture with Russian oligarch Oleg Deripaska's Rusal International. Rusal International is the second-largest aluminum producer in the world.
https://report.az/en/other-countries/australia-bans-sale-of-aluminum-ore-to-russia/
Prime Minister Scott Morrison announced that Australia would donate coal and further military equipment to Ukraine to “support the brave and courageous resistance” as part of a new aid package that also includes $30m in emergency humanitarian assistance.
Russia satisfies its demand for alumina by 20% at the expense of Australia.
Australia will look for new markets for these products. Meanwhile, the sanctions may affect the Australian-British concern Rio Tinto Group, which ranks third in the global mining sector.
The concern owns an 80% stake in Queensland Alumina in a joint venture with Russian oligarch Oleg Deripaska's Rusal International. Rusal International is the second-largest aluminum producer in the world.
https://report.az/en/other-countries/australia-bans-sale-of-aluminum-ore-to-russia/