33.1 C
Friday, June 21, 2024

US sanctions Boeing titanium supplier

Russia’s VSMPO-AVISMA has been added to a list of foreign firms reportedly posing a risk to US national security

The US Bureau of Industry and Security (BIS) has introduced export restrictions on 28 international companies, including a well-known Russian titanium exporter, determined to be acting contrary to the national security or foreign policy interests of the United States.

According to a notice posted in the Federal Register on Tuesday, the targeted entities from Russia, China, Finland, Germany, Oman, Pakistan, and the United Arab Emirates will be subject to additional license requirements for exports, re-exports, and transactions.

The list of sanctioned Russian companies includes the world’s largest titanium producer, VSMPO-AVISMA Corporation, which used to be a major supplier for US aerospace giant Boeing’s commercial production. Titanium parts manufactured by VSMPO-AVISMA have been used on Boeing 737, 767, 787, 777 and 777X airplanes. In 2022, the US plane maker reportedly decided to stop titanium purchases from the Russian firm.

According to the statement, the Russian company was added to the entity list “for representing a critical risk of diversion of US defense technologies” while being “directly involved in producing and manufacturing titanium and metal products for the Russian military and security services.”

Four other Russian companies added to the blacklist include Device Consulting, Grant Instrument, SMT-iLogic, and Streloy. All of them have been “implicated in a conspiracy to violate US export controls, including a scheme to supply the Special Technology Center, an entity on the BIS Entity List, with components to make unmanned aerial vehicles (UAVs) for Russia’s Main Intelligence Directorate of the General Staff (GRU),” the document claimed.

For more stories on economy & finance visit RT’s business section

September 27, 2023 at 02:30PM

Most Popular Articles