European Industry Suffers from Ban on Russian Aluminum

Production of aluminum in Europe has fallen to the level of the 1970s, reports Bloomberg. The reason is the high energy prices and the blockade of the purchase of aluminum from Russia (blocked by Western sanctions, that is). The director general of the Association of European Aluminum Producers informed Bloomberg that the industry is in an existential crisis. If we do not come up with something quickly, there will be no chance to rebuild anything, the director general said. The European Union itself produces only half the aluminum that is needed. The second half has been imported—a substantial share of that from Russia.