Norilsk Nickel has developed a “Plan B” in case sanctions are tightened

Nonickel has prepared a “Plan B” in case the West tightens sanctionsand impose an embargo on the supply of nickel and palladium from RUSSIA, co-owner of the company Vladimir Potanin told RBC. But he expects that "it won't come to that"

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Due to Western sanctions against Russia and the refusal of some European ports to accept Russian goods, Norilsk Nickel faced logistical problems in Europe. The largest co-owner and president of the company, Vladimir Potanin, spoke about this in an interview with RBC.

“There are also logistical problems due to the refusal of a number of European ports to process our cargo <...> But [these problems] are not yet critical,” Potanin said.

Potanin urged "not to slam the door" when choosing a response to sanctions Business

The main products of Norilsk Nickel - nickel, platinoids and copper - are focused on the European market, he recalls. In 2021, against the backdrop of rising prices for metals, the company's revenue from their sale increased by 14.2%, to $17.1 billion. More than half of sales (53%) came from Europe, another 15% from the usa and South America, follows from her presentation. And the share of Asia has decreased from 35% to 27%. The company attributed this to a “high base” in 2020, when copper sales rose due to a high price premium in local markets and low logistics costs. In addition, nickel sales in CHINA declined last year as local consumers switched from high-quality products to nickel iron from Indonesia, the company said. The Russian market accounted for only 5% of Norilsk Nickel's sales.