During the negotiation of the seventh package of sanctions against Russia, the European Union blocked the introduction of restrictions against the largest Russian titanium producer VSMPO-Avisma.
The Wall Street Journal writes about this with reference to European officials.
France and several other countries opposed the imposition of sanctions on VSMPO-Avisma. For France, this company is a more important supplier of titanium for the largest manufacturer of commercial aircraft, Airbus. Other countries also buy the products of this manufacturer and did not want supplies from the Russian Federation to stop.
The exclusion of "VSMPO-Avisma" from the sanctions list in the EU is justified by the fact that titanium is not the main source of income for the Russian economy. In 2020, exports amounted to $415 million.
- "VSMPO-Avisma" supplies materials for Russian jet fighters fighting in Ukraine.
- On July 21, the European Union introduced the seventh package of anti-Russian sanctions. A total of 57 individuals and legal entities fell under the new restrictions.