RT.com
06 Aug 2022, 22:13 GMT+10
A disruption of titanium exports could spell trouble for plane manufacturers
Europe's aerospace industry would be in danger if sanctions disrupt the supply of Russian titanium, the Wall Street Journal reported on Friday, citing the top management of Airbus.
Russia's VSMPO-Avisma is the world's largest supplier of the metal and was the main trading partner for the US-based Boeing and Europe's Airbus.
While Boeing halted purchases of Russian titanium from VSMPO, Airbus has continued buying it through unsanctioned entities and has lobbied to keep the firm off the sanctions list.
"The ones we would sanction would be ourselves. If they [VSMPO] stop delivering to worldwide global aerospace, it's the end of the story. So it's a typical lose-lose," the WSJ quoted Airbus CEO Guillaume Faury as saying.
VSMPO meets about half of Airbus' titanium needs. The metal is widely used in plane making because it is light, strong, and resistant to corrosion.
Before the sanctions, Boeing received about a third of its titanium from Russia. Apart from Japan, US allies don't produce aircraft-quality metal. The Department of Commerce has repeatedly described the current situation as a threat to national security.
After the start of Moscow's military operation in Ukraine, plane manufacturers said they were looking for alternative sources of titanium, but according to the WSJ, this diversification did not happen.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Greek Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Greek Herald.
More InformationBANGKOK, Thailand: Instant noodle makers have asked Thailand to allow them to increase their prices to meet rising costs, which ...
JEDDAH, Saudi Arabia: In a Twitter post published this week, Saudi Arabia's Kingdom Holding said it had invested in Russian ...
DELHI, India: Dubbed the country's Warren Buffett, India's best-known stock investor and self-made billionaire, Rakesh Jhunjhunwala, died on August 14 ...
SAO PAULO, Brazil: Brazil's central bank chief Roberto Campos Neto has said that he believes credit cards will cease to ...
LONDON, England: Despite a recent rebound, speculators in the international copper market, considered an indicator of the world's economic health, ...
MOSCOW, Russia: Financial information released by the Rosstat federal statistics service this week indicated that Russia's economy shrank 4 percent ...
WELLINGTON, New Zealand: During his visit to New Zealand, Ambassador Sujiro Seam, Head of the Delegation of the European Union ...
TALLINN, Estonia: The leaders of Estonia and Finland have said that Russian citizens should not be able to go on ...
WARSAW, Poland: Toughening its rhetoric in its rule-of-law row with the European Union, Poland's national-conservative government threatened to turn "all ...
Beijing [China], August 18 (ANI): Furthering Beijing into irrelevance, Estonia and Latvia have both pulled out of China's diplomatic and ...
This autumn's Brazilian presidential election offers a glimpse of how 21st century populist leaders are using religion to enthuse their ...
algiers, algeria - Wildfires raging in the forests of eastern Algeria have killed at least 37 people and wounded 161 ...