No More Russian Metals Exported to Europe

Dec. 28, 2022 (EIRNS)—Russia will redirect its metal exports from Western countries to alternative markets due to sanctions imposed by the EU and U.S., Russian Trade Minister and Deputy Prime Minister Denis Manturov said on Dec. 26. He named China, Türkiye, Southeast Asia, member states of the Russia-led Eurasian Economic Union and CIS countries as priority areas for diversifying metal supplies. According to Manturov, trade flows will also focus on the Latin American, African and Middle Eastern markets.

Speaking at a meeting of deputy prime ministers with Prime Minister Mikhail Mishustin, Manturov reported that “our enterprises, with the participation of trade missions, are already reorienting exports,” and that the state will provide measures of support for logistics.

Russia is a major metals producer and exporter, reported RT. According to Institut Polytechnique de Paris, last year the country held a 13% market share for titanium production, 11.2% for nickel, 10.5% for platinum, 5.4% for aluminum, 4% for copper and 4.4% for cobalt. It is the world’s top producer of palladium, a rare metal used in car manufacturing, accounting for 37% of production in 2021.