Following Russia’s missile strikes in Ukraine, the Biden administration is eyeing a ban on Russian aluminum to punish the nation, according to a new Bloomberg report. Meanwhile some in the administration are warning such a move could throw the metals market into chaos.

The report stated the White House is considering three options. They are eyeing an outright ban on importation of the metal, an effective ban done through raising tariffs to prohibitive levels, or a suite of sanctions on Russian aluminum producer Rusal.

Sources said the White House had held off on sanctioning Russian aluminum as there are fewer suppliers, and such a move could disrupt global suppliers who purchase the metal. However as the West has gradually increased sanctions on Russia as the conflict in Ukraine has gone on, the administration is ow running out of products to sanction. Discussions have been going on regarding the matter for weeks, according to sources.

Industry analysts warn that eliminating the Russian supply of aluminum could disrupt metals markets across the world. Aluminum is crucial to most heavy industries, so a ban would disrupt supplies of critical parts, and could even force manufacturers to seek out a replacement metal for their products, possibly even requiring some to be re-engineered. Such a situation could produce a new wave of supply-chain disruptions, and drive inflation even higher.

After China, Russia is the second largest producer of aluminum in the world. Bloomberg data shows that 10% of US aluminum imports come from Russia. Statistics show Russia was the third largest exporter of aluminum to the US.

As news broke of the potential embargo, aluminum prices rose 7% on the London Metals Exchange.

The London Metals Exchange launched an open discussion paper last week, examining the ramifications of banning Russian aluminum sales on the bourse. It had already limited new deliveries of Russian copper and zinc as part of new UK government sanctions levied against Russia.