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Russian copper producers have directed supplies to Asian, Middle Eastern countries

Russia’s Industry and Trade Ministry provides comprehensive help to firms operating in the sector both regarding investment projects and in terms of entering new markets

MOSCOW, March 20. /TASS/. Russian copper producers have directed exports to Asian and Middle Eastern countries due to sanctions restrictions, as well as boosted sales on the domestic market, according to a presentation of deputy head of the Industry and Trade Ministry’s department Konstantin Fyodorov and files provided by the ministry.

"Sanctions restrictions caused a temporary decline in copper production, as well as negatively influenced investment projects that are being implemented. However, enterprises have redirected their export flows to Asian and Middle Eastern countries, and sales of products on the domestic market have also increased," according to the presentation.

Russia’s Industry and Trade Ministry provides comprehensive help to firms operating in the sector both regarding investment projects and in terms of entering new markets.

In 2023, Nornickel's copper production went down by 2% to 425,000 tons due to a decrease in production of ore. The company expects copper production to fall by 17-21% in 2024 to 334,000-354,000 tons.

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