【SMM Nickel Market Flash】Global Witness Confirms Sanctions Loophole for Russian Nickel via Finland

Published: Sep 30, 2025 16:45

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【SMM Nickel Market Flash】The NGO Global Witness has confirmed its findings on a major sanctions loophole allowing Russian-mined nickel to enter Western markets, including the US. The organization states that because the EU has not sanctioned Russian nickel, the metal can be legally imported and refined at a Russian-owned facility in Finland. This processed nickel is then considered of "Finnish origin" and legally exported to markets like the US, which has banned Russian-origin metal. The US has imported nearly $130 million worth from Finland since the ban took effect. Global Witness also reiterated its discovery of leaked invoices showing direct sales from the Russian producer, Norilsk Nickel, to a Russian tank manufacturer.

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