VLADIVOSTOK, September 4. /TASS/. The US has started a global "copper race" by imposing export duties and speeding up the stockpiling of copper reserves, Igor Sechin, CEO of Rosneft and Executive Secretary of the Presidential Commission on the Strategy for the Development of the Fuel and Energy Sector and Environmental Security, said.

"It is worth emphasizing copper, a key element in the development of a new type of energy system. The US has launched a global copper race by imposing export duties and stepping up the stockpiling of copper reserves, which has pushed the price of the metal to record highs. Meanwhile, Russia doubled its supplies of copper concentrate and copper to China last year," he said at the Russia-China Energy Business Forum, held on the sidelines of the Eastern Economic Forum (EEF).

Supplies of copper ore and concentrate also doubled during the first seven months of this year, he added.

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of the Far Eastern Federal University (FEFU). The main theme of the EEF in 2026 is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian Government. TASS is the general media partner.