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Aluminum Traders Game Out the Options: Sanctions, Tariffs or Ban

A worker removes slag from an electrolysis bath at an aluminium smelter, operated by United Co. Rusal, in Sayanogorsk, Russia.
A worker removes slag from an electrolysis bath at an aluminium smelter, operated by United Co. Rusal, in Sayanogorsk, Russia.Source: Bloomberg

News that the US may target Russian aluminum in retaliation for attacks in Ukraine is sending shivers through the global metals market, reviving memories of the panic that followed previous sanctions on United Co. Rusal International PJSC just four years ago.

The Biden administration is eyeing three potential measures after Russia’s strikes on Kyiv and other Ukrainian cities this week, Bloomberg reported on Wednesday. Traders are now scrambling to game out the consequences of any potential penalties.