【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.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.