Putin proposes placing limits on uranium shipments
Date
9/18/2024 8:18:00 AM
(MENAFN) Russian President Vladimir Putin has indicated that the country may impose restrictions on the export of certain strategically important raw materials, including uranium, metals, and minerals. This potential move is framed as a countermeasure to ongoing Western efforts to limit Russia’s access to foreign goods and markets amid sanctions related to the Ukraine conflict.
During a government meeting on Wednesday, Putin highlighted the challenges faced by Russia due to sanctions that restrict its ability to engage in international trade. He pointed out that while Ukraine-related sanctions have hampered Russia’s access to foreign markets and the procurement of goods from abroad, there are concerns that further sanctions could also target dual-use items—products that serve both civilian and military purposes.
Despite these restrictions, Putin noted that Russia continues to supply various goods to the global market “in large quantities,” with some international buyers actively stockpiling these products. “Russia is a leader in terms of reserves of several strategic types of raw materials,” he stated, acknowledging the country’s significant resource wealth but recognizing limitations on specific exports.
In his remarks, Putin suggested that the potential restrictions could encompass key exports such as uranium, titanium, and nickel, along with “certain other goods.” He stressed that any such measures would be carefully considered to avoid causing harm to the Russian economy. “There is no need to do anything to harm ourselves,” he emphasized, adding that the significance of these potential restrictions could not be underestimated given the global importance of Russian raw materials.
Putin’s statements come amid a backdrop of increasing tension between Russia and Western nations, with the ongoing geopolitical landscape prompting discussions about economic self-sufficiency and the strategic management of key resources. As the situation develops, the international community will be watching closely to see how these proposed export limitations might reshape trade dynamics and affect global markets.
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