An attempt is made to explain the aromagnetism observed by Tolstoi and Spartakov {Pis'ma Zh. Eksp. Teor. Fiz. 52,796 (1990) [ JETP Lett. 52,161 (1990) ]}. It is shown that this phenomenon is not of a magnetic nature. It occurs because the molecules of aromagnets have axial toroidal moments, which interact with the vortical electric field induced by the alternating magnetic field used in the experiments.