Australia ramps up sanctions with export bans of alumina and aluminium to Russia
Australia has imposed an immediate ban on exports of alumina and aluminium ores to Russia.
The government revealed the measures as part of ongoing sanctions against Russia, following the invasion of Ukraine.
In a joint statement from several Australian ministries, they said: “The government will work closely with exporters and peak bodies that will be affected by the ban to find new and expand existing markets.”
Russia currently relies on Australia for nearly 20 per cent of its alumina needs, with the chemical compound being a key feature in the production of aluminium – a critical export for the country.
Aluminium is used in consumer goods such as electronics and cooking utensils, alongside parts of aeroplanes and power lines.
The announcement follows Anglo-Australian mining giant Rio Tinto revealing earlier this month it would sever ties with Russia.
Rio Tinto currently owns an 80 per cent stake in Queensland Alumina (QAL) in a joint venture with Russia’s Rusal International (Rusal), the world’s second-largest aluminium producer.
While it is unclear how it plans to push Rusal out of the joint venture, Australia has since imposed sanctions on two Russian businessmen with links to its mining industry – including Rusal’s billionaire founder Oleg Deripaska.
So far, Australia has rolled out a total of 476 sanctions on 443 individuals, including businessmen close to Russian President Vladimir Putin.
It has also targeted 33 entities, including most of Russia’s banking sector and all entities responsible for the country’s sovereign debt.
Australian coal producers have been bombarded with calls for supplies over the past few weeks from Ukraine, and other countries like Poland that have been reliant on Russian shipments.
The government has consequently revealed it will donate at least 70,000 tonnes of thermal coal to Ukraine to help meet its energy needs.
Whitehaven Coal has quickly arranged a shipment, while the government is now working with the company and the Ukrainian and Polish governments to deliver supplies at the earliest available opportunity.