Airbus and other European manufacturers opposed the sanctions.
The largest titanium exporter was removed from the seventh package of sanctions against the Russian Federation – WSJ” />
The European Union at the last moment excluded the largest Russian titanium producer VSMPO-Avisma from the new package of sanctions, writes The Wall Street Journal .
France, Germany, Spain and other EU members, whose industries depend on the export of Russian titanium, opposed the sanctions. The Russian company is the most important supplier of products to the aircraft manufacturer Airbus SE.
Opponents of the sanctions motivated the rejection of the ban by the fact that Russia could block the supply of titanium in response. Airbus publicly called on the EU to waive sanctions.
“European diplomats expressed concern that limiting the company's exports could trigger retaliatory measures from Moscow – stopping the sale of titanium to companies in the EU,” the article says.< /p>
VSMPO-Avisma also supplies titanium for the production of fighter jets used in the war in Ukraine. It is partly owned by the Rostec defense company, which is headed by oligarch Serhii Chemezov, who is under sanctions. Sanctions against Rostec are already in effect. “VSMPO” should also fall under them as a company related to the defense industry.
The expansion of the ban on the export of Russian palladium, titanium and nickel has been discussed in the EU for several months. European Commissioner Valdis Dombrovskis called on European countries to diversify the supply of this raw material.
About half of the supply of titanium for the aerospace industry worldwide comes from the Russian Federation. Airbus buys about 65% of the titanium exported by VSMPO. The company claims that the rejection of Russian titanium “will cause serious damage to the entire aerospace industry in Europe.” Russia receives about 415 million dollars a year from the export of titanium. From the export of iron and steel – 16 billion.
Read also: In order to really punish the aggressor, in addition to harsh sanctions, it is necessary to include him in the “black list” of the FATF
We remind you that today the EU Council approved the seventh a package of sanctions against Russia imposed on it due to its military invasion of Ukraine. It provides for an embargo on the import of Russian gold, restrictions against “Sberanka” and the expansion of personal sanctions.
Read more about which Russian goods will no longer be supplied to European markets, and which Ukrainian products can replace them, in the article Igor Guzhva and Yevhen Ivanov “Which Russian goods did Western markets get rid of“.
