Putin proposes reducing amount of uranium exported.
Date
9/19/2024 9:05:31 AM
(MENAFN) On Wednesday, President Vladimir Putin announced that Russia might impose limits on the export of key raw materials critical to the global market. He mentioned that exports of nuclear fuel, metals, and minerals might face impacts.
Putin stated that the action would be in retaliation to Western efforts to prevent Russia from acquiring specific foreign products. Sanctions related to Ukraine restrict Russia's access to foreign markets and ability to pay for goods made abroad. Additional warnings of secondary sanctions from Western countries indicate that Russia's access to dual-use goods may also be restricted.
During a government meeting on Wednesday, Putin mentioned that Russia is still exporting certain goods to the global market "in large quantities" despite restrictions from Western countries, with some buyers even excitedly hoarding Russian products.
Russian leader stated that: “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 recommended that the potential limitations could involve the nation's uranium, titanium, and nickel exports, along with some other items.
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