Putin says Moscow should consider restricting exports of uranium, titanium and nickel

Reuters | September 11, 2024 | 7:39 am Europe Nickel Uranium

Russia’s President Vladimir Putin. (Image courtesy of World Economic Forum |Flickr.)

Russian President Vladimir Putin said on Wednesday that Moscow should consider limiting exports of uranium, titanium and nickel in retaliation against the West.

“Please take a look at some of the types of goods that we supply to the world market… Maybe we should think about certain restrictions – uranium, titanium, nickel,” Putin told Prime Minister Mikhail Mishustin in televised comments to a government meeting.

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Russia is the world’s fourth largest uranium producer, according to the World Nuclear Association’s data. President Joe Biden has signed into law a ban of enriched uranium imports from Russia, a trade worth around $1 billion annually.

In 2023 the United States and China topped the list of Russian uranium importers, followed by South Korea, France and Kazakhstan and Germany.

Russia is also the world’s third largest producer of titanium sponge which is turned into metal for industrial applications in aerospace, marine and auto industries but has law titanium mineral reserves of its own.

Russia’s Nornickel is the world’s largest producer of refined nickel.

(Reporting by Reuters; Writing by Anastasia Teterevleva; Editing by Mark Trevelyan/Guy Faulconbridge)

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