Russia considers export limits on titanium and uranium, says deputy FM
Russia is contemplating a ban on the export of specific raw materials to the global market, according to a warning from Deputy Foreign Minister Sergey Ryabkov. Read Full Article at RT.com.
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Earlier, President Vladimir Putin tasked the government with exploring potential restrictions that Moscow could implement in retaliation to Western sanctions.
Deputy Foreign Minister Sergey Ryabkov mentioned on Saturday that Russia is considering limiting exports of key raw materials like titanium and uranium to the international market. Ryabkov highlighted that Moscow is currently assessing the advantages and disadvantages of such a decision.
During a meeting on Wednesday, President Putin raised the possibility of imposing caps on exports of certain critical commodities as a response to Western sanctions. He pointed out that although Russia faces limitations on the supply of various goods, it continues to export a significant amount of products globally, thus providing resources to both allies and adversaries.
“Maybe we should also think about certain restrictions,” Putin stated, hinting that this could affect exports of uranium, titanium, and nickel.
Ryabkov, addressing reporters on Saturday, did not dismiss the future enactment of these restrictions.
“Economic countermeasures to sanctions pressure can be very different... We are weighing the pros and cons, weighing the consequences of this move, as we cannot act rashly here,” Ryabkov remarked, reiterating Putin’s caution that any prospective export limitations must not adversely impact the Russian economy.
“We will see how things go further, but we cannot rule out any tough retaliatory measures,” Ryabkov continued.
He also commented on the broader economic conflict, describing the actions of the US and its allies as constituting "total economic aggression" in a hybrid war against Russia, with responses from Russia expected to be equally severe.
Russia is notable for being the world’s primary producer of titanium, critical for the aerospace sector, and holds a major stake in the global enriched uranium market, crucial for US civil nuclear power generation. Despite this, the US has placed some restrictions on Russian uranium imports, albeit with waivers extending until 2028 due to supply issues. Meanwhile, Western powers have hesitated to impose sanctions on Russian titanium given their substantial dependence on these imports.
For further details on economic and financial developments, see RT's business section.
Frederick R Cook for TROIB News
Deputy Foreign Minister Sergey Ryabkov mentioned on Saturday that Russia is considering limiting exports of key raw materials like titanium and uranium to the international market. Ryabkov highlighted that Moscow is currently assessing the advantages and disadvantages of such a decision.
During a meeting on Wednesday, President Putin raised the possibility of imposing caps on exports of certain critical commodities as a response to Western sanctions. He pointed out that although Russia faces limitations on the supply of various goods, it continues to export a significant amount of products globally, thus providing resources to both allies and adversaries.
“Maybe we should also think about certain restrictions,” Putin stated, hinting that this could affect exports of uranium, titanium, and nickel.
Ryabkov, addressing reporters on Saturday, did not dismiss the future enactment of these restrictions.
“Economic countermeasures to sanctions pressure can be very different... We are weighing the pros and cons, weighing the consequences of this move, as we cannot act rashly here,” Ryabkov remarked, reiterating Putin’s caution that any prospective export limitations must not adversely impact the Russian economy.
“We will see how things go further, but we cannot rule out any tough retaliatory measures,” Ryabkov continued.
He also commented on the broader economic conflict, describing the actions of the US and its allies as constituting "total economic aggression" in a hybrid war against Russia, with responses from Russia expected to be equally severe.
Russia is notable for being the world’s primary producer of titanium, critical for the aerospace sector, and holds a major stake in the global enriched uranium market, crucial for US civil nuclear power generation. Despite this, the US has placed some restrictions on Russian uranium imports, albeit with waivers extending until 2028 due to supply issues. Meanwhile, Western powers have hesitated to impose sanctions on Russian titanium given their substantial dependence on these imports.
For further details on economic and financial developments, see RT's business section.
Frederick R Cook for TROIB News
