NHYDY - Norsk Hydro wants sanctions on Russian aluminum from U.S. Europe

Norsk Hydro ( OTCQX:NHYDY ) said Tuesday that the U.S. and European Union should stop importing Russian aluminum onto their territories, Reuters reported.

"We want to urge sanctions in both Europe and the U.S.," Norsk Hydro ( OTCQX:NHYDY ) CEO Hilde Merete Aasheim said. "Our European industry shuts down, while... we see Russian production at the same level as before the invasion. So they are benefiting."

About half of Europe's aluminum production has been shut down because of the surge in energy costs since Russia's invasion of Ukraine, while Russian output has been unaffected and not targeted by Western sanctions against Russia.

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Aasheim's remarks echo the views of U.S. producer Alcoa ( NYSE: AA ), which has urged the Biden administration to block U.S. imports of the metal from Russia .

The U.S. is considering restrictions on Russian aluminum imports, and the London Metal Exchange is mulling whether to ban Russian metals from its system .

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