A PYMNTS Company

Russia: EU considers aluminum import tax

By  |  October 8, 2014

The European Commission has reportedly launched a probe into Russian aluminum imports following concerns Russia is product-dumping.

The Commission will consider imposing import taxes on Russian aluminum producers to benefit EU rivals like Luxembourg-based Eurofoil and Bulgaria-based Alcomet, say reports. The Commission has nine months to decide on whether to impose those anti-dumping taxes.

According to reports, the investigation follows a formal complaint lodged with EU officials in August by a group of EU aluminum manufacturers, including Eurofil and Alcomet.

But United Co. Rusal, which claims to be Russia’s only producer of aluminum foil, has denied the allegations. The company, which is also the world’s largest aluminum foil manufacturer, also vowed to cooperate with the EU’s investigation.

Reports mentioned no indication that the investigation was part of EU-led sanctions against Russia for its aggression towards Ukraine.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.