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 Business Sun 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 Business Sun.
More InformationSYDNEY, NSW, Australia - Stocks in Asia were mixed Tuesday while in the Pacific, markets rose. The scene mirrored events ...
ABU DHABI, UAE - The UAE plans to invest $1 billion in Pakistani companies across multiple sectors, according to the ...
NEW YORK, New York - U.S. stocks closed mixed on Monday as investors fret about CPI data due to be ...
SYDNEY, NSW, Australia - Stocks in Asia were mixed on Monday, but gains and losses were modest.There is concern the ...
NEW YORK CITY, New York: A New York Federal Reserve report released this week indicated that Americans are struggling to ...
NEW YORK CITY, New York: The Department of Financial Services of New York State said it has fined the crypto ...
Earlier today, reports began emerging Google was down.While it has since returned, it once again highlights our dependence on technology ...
New Delhi [India], August 9 (ANI): The Ministry of Defence on Monday announced that the 12th edition of the Defence ...
Islamabad [Pakistan], August 9 (ANI): Admitting that the Pakistani government was involved in the ban on a news channel, the ...
HARARE, ZIMBABWE - Zimbabwe has charged two journalists under its cybercrime law in a move media advocates say runs counter ...
US ?auxiliaries? are propping up Kiev's armed forces, French intelligence reportedly believesUkrainian forces have "had the American military at their ...
Islamabad [Pakistan], August 9 (ANI): To protect the rights of journalists and protest against the curb on media freedom, the ...