Nornickel Responds to New US and UK Sanctions: Forecasts Increased Metal Price Volatility

Nornickel has expressed concerns following the recent sanctions imposed by the US and the UK on the import of aluminum, nickel, and copper from Russia. A company spokesperson stated that these restrictions are likely to increase market volatility, heighten supply chain uncertainties, and ultimately escalate the prices for end users globally.

The representative emphasized that the new sanctions could disrupt market operations by reducing the liquidity of metals, which in turn could increase the costs associated with financing major industrial supply chains. Despite these challenges, Nornickel reaffirmed its commitment to fulfilling all existing contractual obligations with its clients, underscoring its role as a reliable supplier amidst the evolving geopolitical landscape. The company anticipates that these changes could have far-reaching effects on both the market and on global consumers of these essential metals.