The Magazine for Asian Investors
The Australian government said in a statement today that it has suspended exports of alumina and various bauxites to Russia with immediate effect. This is part of a series of sanctions against Russia in response to the Russian invasion of Ukraine.
“Russia relies on Australia for nearly 20 percent of its alumina needs […] The Government will work closely with exporters and peak bodies that will be affected by the ban to find new and expand existing markets,”the Australian government said in a joint statement from several ministries, including the prime minister’s office
The Australian government has also announced that it will provide Ukraine with at least 70 thousand tons of coal to enable Ukraine to produce enough energy to meet its needs.
Australia has now imposed a total of 476 sanctions on 443 people, including businessmen close to Russian President Vladimir Putin and 33 organizations, most of them banks and companies.