By Chris Weafer of Macro-Advisory The EU is once more toying with the idea of slapping sanctions on one of Russia’s most important exports to Europe: aluminium. If it happens, the end of aluminium deliveries to Europe could cause prices to spike and drive smaller companies out of business as there are few alternatives to Russia’s aluminium. Imports of primary aluminium from Russia into the EU have already slumped (chart) as business ties are wound down. Aluminium from Russia formed 18% of overall aluminium imports into the EU in 2021 but only 8-9% in 2023 (512,122 tonnes). Now the talk is of c…