The EU and the US increased their imports of industrial metals from Russia after the invasion of Ukraine

The EU and the US increased their imports of industrial metals from Russia after the invasion of Ukraine
The EU and the US increased their imports of industrial metals from Russia after the invasion of Ukraine

Moscow – Despite the Russian invasion of Ukraine, the European Union and the US have increased imports of major industrial metals from Russia. According to Reuters, this results from data from the United Nations database on international trade (Comtrade). The import of nickel from Russia to the USA increased by 70 percent in the period from March to June in a year-on-year comparison, while to the European Union by 22 percent, the increase was also recorded in the import of aluminum.

Its import from Russia to the EU increased by 13 percent year-on-year from March to June this year. From March to June, the USA and the EU together imported nickel and aluminum from Russia for almost two billion dollars (50 billion CZK).

Imports of metals from Russia are booming even as Western countries are trying to deprive Moscow of foreign trade revenue and thereby get it to stop fighting in Ukraine. However, according to Reuters, the increase in the volume of imported metals from Russia demonstrates how difficult it is for Western countries to exert pressure on the Russian economy, which is apparently in better shape than expected.

After the Russian invasion of Ukraine, the West adopted a number of sanctions that apply to the import of various Russian goods as well as to specific companies or individuals. However, the industrial metals sector largely avoided these penalties.

Russia accounts for about 10 percent of global nickel production. At the same time, the Russian company Norilsk Nickel produces about 15 percent of the world’s volume of nickel suitable for the production of batteries, Reuters reported. The Russian company Rusal is one of the largest producers of aluminum in the world and accounts for approximately six percent of its global production.

EU Russia Ukraine USA fight metals trade sanctions

The article is in Czech

Tags: increased imports industrial metals Russia invasion Ukraine

PREV The reason for the FBI raid on Trump: He didn’t hand over everything, he kept top secret documents in his office at home
NEXT Lavrov requests clarification on parts of the IAEA report on the Zaporozhye nuclear power plant