Putin proposes restricting uranium exports
Vladimir Putin has issued a warning that Moscow may restrict the global supply of nickel, titanium, and uranium. For more details, read the full article at RT.com.
TroibNews 
Russia might impose restrictions on exporting crucial raw materials, potentially impacting the global supply of uranium, titanium, and nickel, according to statements made by President Vladimir Putin on Wednesday. During a government meeting, Putin highlighted that these measures would be a counteraction to the Western efforts aimed at preventing Russia from accessing specific foreign-made products.
Putin pointed out that the sanctions related to the situation in Ukraine have already affected Russia's ability to engage with foreign markets and purchase goods internationally. He also mentioned the looming threat of additional sanctions targeting goods with dual uses, which serve both civilian and military purposes.
Despite existing sanctions, Putin noted, "Russia continues to supply some types of goods to the world market 'in large quantities' and in some cases buyers are happily stockpiling Russian products."
Further commenting on the global dependency on Russian raw materials, Putin explained, "Russia is a leader in terms of reserves of a number of strategic types of raw materials... Yet we are limited in the supply of a number of goods – maybe we should also think about certain restrictions.” He also listed specific materials that might be restricted, including uranium, titanium, nickel, among others.
While deliberating the implications of these potential restrictions, Putin added, “There is no need to do anything to harm ourselves… I am not saying that we need to do this tomorrow. But, in general, if this will not harm us, we could think about certain restrictions on supplies to foreign markets.”
Russia's significant role in the global markets for these materials is underscored by its 40% share in the enriched uranium market, critical for both civil and military nuclear capabilities. Russia is additionally recognized as the top producer of titanium crucial for the aerospace industry and a major producer of nickel essential for clean energy technologies.
Despite the sanctions, the US introduced a waiver for Russian uranium that extends until 2028, acknowledging the critical need for this resource. However, the US has stopped the import of Russian nickel, but has not yet placed any sanctions on Russian titanium, which continues to be crucial for American and European industries.
For further insights into these developments and more economic news, check RT's business section.
Jessica Kline for TROIB News
Putin pointed out that the sanctions related to the situation in Ukraine have already affected Russia's ability to engage with foreign markets and purchase goods internationally. He also mentioned the looming threat of additional sanctions targeting goods with dual uses, which serve both civilian and military purposes.
Despite existing sanctions, Putin noted, "Russia continues to supply some types of goods to the world market 'in large quantities' and in some cases buyers are happily stockpiling Russian products."
Further commenting on the global dependency on Russian raw materials, Putin explained, "Russia is a leader in terms of reserves of a number of strategic types of raw materials... Yet we are limited in the supply of a number of goods – maybe we should also think about certain restrictions.” He also listed specific materials that might be restricted, including uranium, titanium, nickel, among others.
While deliberating the implications of these potential restrictions, Putin added, “There is no need to do anything to harm ourselves… I am not saying that we need to do this tomorrow. But, in general, if this will not harm us, we could think about certain restrictions on supplies to foreign markets.”
Russia's significant role in the global markets for these materials is underscored by its 40% share in the enriched uranium market, critical for both civil and military nuclear capabilities. Russia is additionally recognized as the top producer of titanium crucial for the aerospace industry and a major producer of nickel essential for clean energy technologies.
Despite the sanctions, the US introduced a waiver for Russian uranium that extends until 2028, acknowledging the critical need for this resource. However, the US has stopped the import of Russian nickel, but has not yet placed any sanctions on Russian titanium, which continues to be crucial for American and European industries.
For further insights into these developments and more economic news, check RT's business section.
Jessica Kline for TROIB News
