Comment on Putin wants to retaliate against Western sanctions with commodity export curbs — but Russia needs the money, too

Putin wants to retaliate against Western sanctions with commodity export curbs — but Russia needs the money, too

Putin is weighing export curbs on strategic commodities like nicke.Contributor via Getty ImagesRussian President Vladimir Putin is considering limiting strategic commodity exports to counter Western sanctions.Putin cited uranium, nickel, and titanium as some commodities his government can look into.However, Russia's oil profits appear to be under pressure due to sanctions and increased breakeven prices.Russian President Vladimir Putin wants to impose his own trade restrictions to retaliate against the West's sanctions.But there's one issue: He still needs to fund the war in Ukraine and profits from oil exports are likely under pressure.On Wednesday, Putin told his government to consider the export of strategic commodities, such as uranium, nickel, and titanium, according to state news agency TASS."They are restricting supplies of a number of goods to us.

 

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