Russia|Putin proposed, among other things, to limit the export of uranium, titanium and nickel. Putin’s opponents, on the other hand, would like Finland to ban the import of nickel.
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Putin suggested restricting the export of strategic raw materials as a response to Western sanctions. One of the raw materials would be nickel.
Russian opposition activists demand that Finland stop importing nickel from Russia, because the nickel trade benefits Russia’s military economy.
According to Reuters, Russian companies are worried about the effects of Putin’s proposal on the economy.
Russian the manager Vladimir Putin a fresh idea about the way Russia would respond to Western sanctions unexpectedly includes the same measure that the Russian opposition activists who oppose him demand from Finland. Representatives of Russian companies are surprised by Putin’s proposal.
Last Wednesday, at a meeting of his government, Putin proposed that the export of certain strategically important raw materials abroad would be limited as a response to the economic sanctions of Western countries.
He urged his government to consider, for example, limiting the export of uranium, titanium and nickel. Putin also mentioned natural gas, gold and diamonds, the producers of which Russia is a very important factor in the world market.
“In general, if this does not cause us any damage, then we could think, I’m not saying that we should do this tomorrow, but also think about certain restrictions on deliveries to foreign markets. Not only for the items I mentioned, but for some others as well,” Putin told his ministers, according to the news agency According to the cup.
He ordered the prime minister Mihail Mishustin to find out and report on it later.
Bridge during the week Helsingin Sanomat reported that Russian opposition activists demanded that Finland stop importing nickel from Russia, because the nickel trade benefits Russia’s military economy. They made the claim in a petition letter.
In other words, Putin thinks that Russia should ban activities that the opposition believes help Russia run its military-industrial system.
In Harjavalla, a Russian-owned factory processes Russian nickel, which was imported to Finland last year worth more than a billion euros. According to Yle Finland is the only channel for Russian nickel to the European Union. On the other hand, the copper obtained in the refining of nickel is taken back to Russia.
Finnish Minister of Economic Affairs Will Rydman quoth last spring for Ylethat banning the import of nickel from Russia would be like shooting itself in the foot for Finland.
The same used the phrase by chance on the other side of Finland’s eastern border news agency Reuters interviewed by a representative of the Russian economy, who commented on the export restrictions proposed by Putin this week. However, he spoke from the point of view of the economy of Russia and not of Finland.
According to Reuters, Russian officials and leaders are puzzled by Putin’s proposal and wonder whether such restrictions could be introduced without harming Russia’s own economy.
“It’s like shooting yourself in the foot,” said a representative of the Russian company interviewed by Reuters.
“Everyone is in a state of shock,” said another interviewee who, according to Reuters, works at a company that would be affected by the restrictions.
Reuters did not publish the names of the interviewees because criticizing the president’s ideas is considered a sensitive matter in Russia.
Limiting the export of uranium, nickel and titanium would limit the foreign currency income of Russia’s largest companies. Examples of such companies would be Rostec, Rosatom and Nornickel. They employ a total of about one million people and are already in trouble due to Western sanctions, Reuters reports.
Putin is on the same lines with his proposals not only with Russian opposition activists, but also with some Western decision-makers. Western countries have also thought that the purchase of some strategically important raw materials from Russia should be limited.
For example, in the European Union it is forbidden to import crude oil, liquid gas, coal, steel and wood from Russia, it is reported on the website of the Council of the EU. Importing the diamonds mentioned by Putin is also prohibited, as is gold.
Nevertheless, Putin’s idea affected prices in the world. It caused an increase in at least the price of nickel and the share prices of uranium mining companies, according to an Australian mining website Mining.com.au.
For example, the United States imports a lot of enriched uranium from Russia. Dated last December legislative drafting document according to the United States imports more than 20 percent of its enriched uranium from the Russian state-owned Rosatom and its subsidiary Tenex.
Uranium imports from Russia are still limited in the United States, and it is planned to be stopped completely. In May the law was passedwhich prohibits the import of uranium products from Russia starting in August, but the law has a transition period until the beginning of 2028.
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