US proposed to G7 to consider sanctions against russian palladium and titanium

A meeting of G7 deputy finance ministers was held in Washington. Representatives of the Biden administration suggested that the meeting participants consider sanctions against russian palladium and titanium.

According to the newspaper's anonymous source, the United States put forward the idea of pushing the conversation about further suppression of the russian economy.

Palladium is a key ingredient in computer chips and catalytic converters for cars, while titanium is used in everything from airplanes to medical implants.

One of the main problems is that Europe is dependent on the metals and has been reluctant to target them in the past. 

It is worth noting that the US has already blacklisted russian titanium, but Western governments are cautious about stopping supplies for fear of stirring up global markets and disrupting their own supply chains.

Sanctions against titanium would also be a militant response to a recent proposal by russian dictator Vladimir Putin. 

In September, he suggested that his government consider restricting exports of certain goods such as nickel, titanium and uranium in response to Western sanctions, making sure that it would not harm russia.

Source: Bloomberg