Putin Mulls Export Restrictions on Key Commodities in Retaliation Against the West

Russian President Vladimir Putin suggested considering export limitations on uranium, titanium, and nickel as a countermeasure to Western sanctions. He noted this should not harm Russia's own interests and emphasized the country's significant production stakes in various natural resources.

In a strategic pivot, Russian President Vladimir Putin has proposed potential export restrictions on critical materials such as uranium, titanium, and nickel in response to Western sanctions.

During a broadcasted meeting with government ministers, Putin stressed the importance of not inflicting self-harm while contemplating these measures. He underscored Russia's pivotal role in the global supply of essential commodities, including natural gas, diamonds, and gold.

According to the World Nuclear Association, Russia ranks as the world's fourth-largest uranium producer. Recent U.S. sanctions have banned imports of enriched uranium from Russia, significantly impacting a billion-dollar trade. Furthermore, Russia is a leading producer of titanium sponge and refined nickel, vital to several industries worldwide.

(With inputs from agencies.)