The expert predicted an increase in Russian nickel supplies to the EU

Russian nickel can strengthen its position in the European market due to its high competitiveness, quality and compliance with "green" standards. Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, told Izvestia on May 26.

The European Union (EU) has increased its dependence on Russian nickel, which now accounts for 23% of total imports. Over the past year, shipments of this metal from Russia have increased by a third, and Russia's share in European imports has risen from 18% to 23%, RIA Novosti reports.

"Russian enterprises are increasing their competitiveness in the production of non-ferrous metals, including nickel. This is due not only to the raw material base, but also to energy efficiency. In an environment where the West will not impose direct restrictions, Russian nickel supplies to the EU will grow," Chirkov said.

According to him, Russian products meet the high quality standards and environmental requirements of the European Union.

"Russian manufacturers produce nickel that meets the "green" standards that are in demand in Europe. In addition, our industry has historically been focused on the European consumer," the economist added.

However, he did not rule out risks due to the political situation.

"If the sanctions pressure increases, Russian companies will be able to redirect supplies to other markets, as nickel is a highly liquid commodity. But it makes no sense for Europeans to abandon Russian nickel, given its quality and logistical proximity," Chirkov concluded.

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Earlier, on April 15, Georgy Ostapkovich, director of the HSE Center for Economic Research and Economic Analysis, in an interview with Izvestia, did not rule out the EU's return to importing Russian gas. According to him, despite the current sanctions and political differences, the resumption of gas supplies from Russia to the European Union is possible.