WSJ learned of EU refusal to support sanctions against VSMPO-Avisma

France and other European countries did not support sanctions against VSMPO-Avisma due to fears that RUSSIAin response, it will ban the EXPORT of titanium to the EU,writes The Wall Street Journal

The European Union "last minute" rejected a proposal to impose sanctions against the Russian steel company VSMPO-Avisma, the world's largest titanium producer, The Wall Street Journal reported, citing European diplomats.

Brussels blocked the initiative after it was not supported by France and other countries due to fears that Russia would retaliate by banning titanium exports to the European Union.

VSMPO-Avisma is an important supplier to the aircraft manufacturer Airbus, which has previously called on the EU to refrain from a ban on titanium imports from Russia, the newspaper notes.

RBC sent a request to a representative of VSMPO-Avisma.

The EU will allow Rosneft and Gazprom Neft to transport oil to third countries Economics

Airbus' American competitor, Boeing, suspended the purchase of titanium from VSMPO-Avisma in March. The aircraft manufacturer explained that he had enough titanium reserves thanks to the created pool of suppliers around the world.

In December 2020, VSMPO-Avisma fell under US sanctions, namely, on the list of companies that, according to the US authorities, cooperate with the armed forces of their countries. A month later, in January 2021, the United States removed the company from the sanctions list, calling it a mistake.

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VSMPO-Avisma is the world's largest manufacturer of titanium products with a high degree of mechanical processing (according to its own estimates, it occupies 25% of the global titanium rolled market). The company also manufactures extruded products from aluminum alloys, semi-finished products from alloy steels and nickel-based heat-resistant alloys. The company has 350 partners in 49 countries, including the world's leading aircraft and engine companies, including Boeing, Airbus, Embraer, Rolls-Royce and Safran Aircraft Engines.

Earlier, RBC wrote that VSMPO-Avisma is considering the possibility of independently mining raw materials for titanium production. Previously, the corporation purchased it in Ukraine, now supplies are coming from African countries and Vietnam. Rosnedra reported that since June, VSMPO-Avisma has been showing interest in obtaining the use of the Central titanium-zirconium deposit in the Tambov region.