RT.com
06 Aug 2022, 17:43 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 Dublin News 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 Dublin News.
More InformationLONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
DUBLIN, Ireland: Despite extreme heat gripping much of mainland Europe, Irish holidaymakers are pressing ahead with their travel plans,...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...