Economics
German Industry Sounds Alarm That Rusal Sanctions Pain Is Coming
- Under U.S. sanctions, some Rusal plants may have to close
- Rusal owns major aluminum smelters in Ireland and Sweden
Metals Gripped by Turmoil on Rusal's Sanctions Fallout
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Germany is raising the first signs of alarm that U.S. sanctions against a major aluminum producer will hurt manufacturers outside of Russia.
Politicians need to take quick action to avoid an economic crisis, according to a report from Germany’s WirtschaftsVereinigung Metalle, a lobbying group for 655 metals companies. Under the sanctions against United Co. Rusal, some European plants could be forced to close and carmakers may face supply shortages, the group said.