US aerospace giant Boeing announced on Monday it has halted all purchases of Russian titanium amid sweeping Western sanctions being imposed on Moscow in retaliation for its war on Ukraine.
The company confirmed its decision in a statement, maintaining it “has substantial titanium inventory due in part to an initiative several years ago to diversify our global sources.”
“Our inventory and diversity of titanium sources provide sufficient supply for airplane production, and we will continue to take the right steps to ensure long-term continuity,” a spokesperson said.
Boeing was involved in a joint venture with Russian oligarch Sergey Chemezov to procure titanium, according to the Wall Street Journal. But Chemezov was among eight prominent Russians sanctioned by the Biden administration on March 3 for having “enabled” Russian President Vladimir Putin’s war on Ukraine.
Russia accounted for about one-third of Boeing’s titanium, a company spokesperson told the Journal.
Since Russia began the war against Ukraine on Feb. 24, it has drawn international condemnation, led to financial sanctions on Moscow, and spurred an exodus of global companies from Russia.
At least 406 civilians have been killed and 801 others injured in Ukraine since the beginning of the war, according to UN figures.
More than 1.7 million people have also fled to neighboring countries, the UN Refugee Agency said.