President Putin earlier ordered the government to look into restrictions that Moscow could impose in response to Western sanctions
Russia could limit the supply of certain raw materials, such as titanium and uranium, to the global market, Deputy Foreign Minister Sergey Ryabkov said on Saturday. According to the senior official, Moscow is currently “weighing the pros and cons” of the move.
The possibility was first voiced by Russian President Vladimir Putin earlier in the week. At a meeting on Wednesday, Putin asked the government to look into the benefits and downsides of capping exports of some strategically important commodities in response to Western sanctions. He noted that while Russia is currently “limited in the supply of a number of goods,” it still exports many products to the world market, effectively allowing both friends and foes to stockpile them.
“Maybe we should also think about certain restrictions,” the president said, suggesting that the measure could involve exports of uranium, titanium, and nickel.
Speaking to reporters on Saturday, Ryabkov said Moscow “does not rule out” implementing these restrictions.
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“Economic countermeasures to sanctions pressure can be very different… We are weighing the pros and cons, weighing the consequences of this move, as we cannot act rashly here,” he said, echoing Putin’s warning that any export restrictions should not harm the Russian economy.
“We will see how things go further, but we cannot rule out any tough retaliatory measures,” the official added.