The United States announced tariffs on Russia's metals and mining industries.

(Reuters)

[Financial Channel/Comprehensive Report] The United States announced new sanctions against Russia's metal and mining industry, including measures that will substantially increase the cost of importing Russian aluminum.

In a statement Friday, the White House said it would raise tariffs on more than 100 Russian metals, minerals and chemical products worth $2.8 billion.

The G-7 will also expand sanctions against key industries that aid Russia in its war effort.

The U.S. said the measures would significantly increase the cost of bringing aluminum smelted or cast in Russia to the U.S. market, but did not immediately provide further details.

Bloomberg previously reported that the United States was preparing to impose a 200% import tariff on Russian aluminum.

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Traders are closely watching the details of any tariffs or sanctions to see if they affect aluminum markets outside the United States.

Russian supplies typically account for about one-tenth of U.S. imports, although most of them are value-added rather than bulk products, with U.S. buyers ranging from construction to the auto industry.

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