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A new insightful post in our corporate blog is out! ⤵️ #partner #businesspartner #partnerinrussia #businesswithrussia #russiaandindia #russianindiantrade #exportmarketing #marketing #newmarket #russianmarket #cismarket #export #exim #trade #CONSULTANT #service #import #exporters #exportimport #importexport

According to data from Turkey's TUIK, from January to February 2024, Turkey imported a total of 10,127.53 million tons of steel billets (including special-shaped billets and high-carbon billets), an increase of about 22% year-on-year. However, under sanctions from the United States and the European Union, Russian payments are restricted. Therefore, Malaysia will become Turkey’s largest supplier of steel billets from January to February 2024. From January to February 2024, Turkey imported a total of 2,437.86 million tons of steel billets from Malaysia, a year-on-year increase of approximately 7.5 times. From January to February 2024, Russia, Turkey’s largest supplier of traditional steel billets, ranked second in terms of steel billet supply. From January to February 2024, Turkey imported a total of 2,280.3 million tons of steel billets from Russia, a year-on-year decrease of approximately 36.6%. Although the year-on-year decrease was significant, steel billet imports from Russia were still relatively strong, accounting for 22.5% of total imports.

Japan bans exports of 164 additional industrial items to Russia 05.04.2024 Japan will expand its ban on exports to Russia to include 164 additional industrial items such as lithium-ion batteries, gas pipes, and car engine oil. This was announced by the Ministry of Economy, Trade and Industry of Japan, Ukrinform reports, referring to The Asahi Shimbun. The latest addition to Japan’s export control list as part of its sanctions against Moscow’s actions in Ukraine, which also includes thermostats, nitrocellulose products and woodworking machines, will take effect on April 17, the ministry said. Read also: Ukraine receives $118M from Japan for health care and recovery A ban on imports of Russian diamonds for non-industrial use, a measure announced after Japan and other Group of Seven nations met virtually with Ukrainian President Volodymyr Zelensky in December, will start on May 10, according to the ministry. As reported by Ukrinform, in March, the Japanese government approved a decision to extend for another year the resolution to deprive Russia of its "most-favored-nation" trade status as part of economic sanctions over its invasion of Ukraine.

US investment in non-Chinese sources of critical minerals and rare earth elements willl likely intensify under a Trump Administration. China's announcement of tougher controls on exports of critical minerals is a reaction to the Biden Admin's sanctions on Chinese companies exporting dual use materials to Russia, but it is also a signal to the incoming Trump Administration that the PRC can and will retaliate against tougher US export controls and tariffs which Trump has promised to implement. Chairman Deng reportedly once said, "The Middle East has oil but China has rare earth metals." China has already restricted exports of two key rare earth elements: gallium and germanium. Expect the Trump Administration to intensify Biden's push to locate and invest in alternative sources of supply for critical minerals and rare earth elements, inside the USA and overseas, to keep reducing US dependence on Chinese sources. #usa #china #critmins #rareearthelements #tariffs #sanctions #greatpowercompetition #geoeconomics #geopoliticalrisk https://lnkd.in/e_iRtuvW

Russia’s diamond surpasses Botswana: The value of Russia’s rough-diamond production surpassed Botswana’s for the first time in 2023 even as sanctions and a weak market hindered the country’s diamond sales. The growth comes despite increased sanctions, including the addition of the European Union to the list of those banning Russian diamonds and harsher rules by the US regarding goods substantially changed in a third-party country, such as India. Last year, Russia produced 37.3 million carats of rough, with a total value of US$3.61 billion, at an average price of US$97 per carat, according to statistics the Kimberley Process (KP) in its production report. That compared to 2022 output of 41.9 million carats with a total value of US$3.55 billion, and an average price of US$85 per carat. Meanwhile, the value of production at Botswana’s mines slid, possibly due to a lower available output mix at De Beers’ Jwaneng deposit, which is in the middle of an expansion. In 2023, the country produced 25.1 million carats, with a total value of US$3.28 billion, at an average price of US$131 per carat, while in 2022 output of 24.5 million carats was valued at US$4.7 billion, with the average price set at US$192 per carat. Global rough output fell 20% year on year to US$12.72 billion. By volume, production slipped 8% to 111.5 million carats. Total imports dropped 10% by volume, while global exports were down 9%. The decline in exports reflected a 12% slump in the number of carats exported from Russia, a 24% drop from Botswana, and a 45% decrease from South Africa. Last month, the European Union has extended the sunrise period for sanctions on Russian diamonds by six months and added an important concession for goods that predate the rules. The traceability programme for imports of rough and polished natural diamonds will become mandatory on March 1, 2025, and not on September 1, 2024, the EU said. This follows calls by De Beers and other industry figures to extend the interim period, during which importers may use other documentation to show that diamonds are not Russian. Once that period is over, importers into the EU must use a traceability-based certification scheme to verify imports of diamonds over 0.50 carats. The EU has also added a ‘grandfathering’ clause to exempt diamonds that were located in the EU or a third country other than Russia or were manufactured in a third country, before the rules went into effect. The EU ban on direct imports of diamonds from Russia began on 1 January 2024, while the ban on goods transformed outside Russia started on 1 March-Rapaport.

Russia's machine tool industry has exhibited substantial growth despite sanctions, says study #bne #bneEditorsPicks #Ukraine #Russia #RussiaUkraineWar #sanctions Russia's machine tool industry has exhibited substantial growth despite US sanctions targeting importers of foreign advanced machine tools and the banks that finance these imports, Russia’s Higher School of Economics (HSE) said in a recent report. “The mechanical engineering industry has received a powerful impetus for development in recent years. More than 40% of enterprises producing machinery and equipment entered 2024 with updated development strategies in terms of production and investment policy, import substitution, digital and technological activity. Enterprise managers assessed the level of technological sovereignty that had developed at the end of 2023-beginning of 2024 quite positively: 18% of respondents considered it "high", 61% "average" [and] only 13% "low", 8% stated its absence,” HSE reports.

Turkish machinery exports in January-June reached $13.5 billion. This was announced by the Association of Exporters of Machinery and Equipment (MAIB). Because of stagnation in the European manufacturing industry and declining demand from investors, Turkish exports to key countries such as Germany, Italy, Great Britain, France and Spain fell by 6.6-17.9 percent. A decrease in exports to the European Union by 4 percent and to other European countries by 17 percent due to anti-Russian sanctions, was offset by a 24 percent increase in exports to North America, an 11 percent increase in Latin America and a 14 percent increase in Asia.

Finnish Aluminium Exports to Russia Double A surprising development has unfolded in the aluminium market, as Finnish exports to Russia have doubled in value to €22.3 million by September 2024, up from €11.3 million in the same period last year. This surge is primarily driven by aluminium studs, which are not sanctioned. Interestingly, this increase coincides with Russian aluminium giant Rusal's recent announcement to reduce production by 6% due to rising raw material costs and declining domestic demand. The timing raises questions about the global aluminium market's dynamics. Turvanasta, a family-owned Finnish company, is largely responsible for this growth. Its co-owner, Ia Adlercreutz, is the wife of Education Minister Anders Adlercreutz. Turvanasta's CEO, Mikko Salakari, emphasized that the company cannot control where customers ultimately deliver their orders. The Finnish Ministry for Foreign Affairs stated it doesn't intervene in Russian exports unless goods are on the EU sanctions list, leaving companies to make their own ethical decisions. However, concerns persist about aluminium studs potentially being used in Russia's war efforts. Finnish businesses have significantly reduced trade with Russia since its invasion of Ukraine, with only 45 companies exporting to Russia this year, down from 925 in 2021. https://lnkd.in/eZ9Jwspv #aluminium #russia

China’s new Dual-Use Export Control Regulation (effective Dec 1, 2024) mirrors the U.S. system with stricter end-use controls (like U.S. export controls under EAR), a "watch list" for non-compliant entities (similar to the U.S. Entity List), and tighter oversight on tech exports. While many believe this signals China’s intent to avoid accusations of enabling Russia’s military actions in Ukraine, it could also act as countermeasures in the U.S.-China tech rivalry as China strengthens its role as a leading exporter in EVs, biotech, and rare minerals. Multinationals dealing with Chinese tech and rare minerals industries should brace for heightened export restrictions and compliance challenges. #ChinaExportControls #USChinaTensions #TechExport #EV #Biotech #RareMinerals #RussiaUkraine #GlobalTrade