Crimea Standoff – Russian metal companies to redirect to Asia if sanctions hit
Russian metal producers are looking to expand into Asian markets in case the US and the EU impose sanctions on Russia.
Mr Vladimir Potanin CEO of Norilsk Nickel said that “His company won’t rule out increasing supplies of nickel and palladium to China and Japan. Norilsk Nickel is also considering measures to shield against possible sanctions from the US and EU. We have large volume of operations in the Chinese market, but the main payment currencies are dollar and euro. In principle, nobody hinders settlements in such currencies as the yuan for deliveries to China. We decided to explore this issue, to look how it’ll function.
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