Putin wants Russia to boost its use of metals to counter Western sanctions
April 20, 2022, 6:34 pm

Putin wants Russia to boost its use of metals to counter Western sanctions

Putin wants Russia to boost its use of metals to counter sanctions (Photo: Pixabay)

The Arab News reported, citing Reuters, Russian President Vladimir Putin on Wednesday called for structural changes in Russia’s metallurgical industry to counter Western sanctions he said were starving it of some components and restricting its ability to sell some goods abroad.

Speaking at a televised meeting with industry officials and company executives, Putin said Russia should increase its domestic consumption of metals by building factories, infrastructure and housing.

He said: “To support demand for domestic metal, we must launch long-term projects and programs whose effect the entire economy will feel."

Russia is a major producer of metals including aluminum, nickel, copper and steel, with annual exports worth tens of billions of dollars.

“There is no reason to believe that the behavior of our partners will fundamentally change. We must make changes to the structure of production and the supply of Russian metallurgical products.” (File photo: Facebook page)

The industry provides jobs for hundreds of thousands, usually in places where other work is hard to find.

It is also a vital sector at time of war, when Russia has lost more than 500 tanks, 100 APCs and hundreds of other fighting vehicles in Ukraine, according to Oryx, a respected Dutch website that is trusted by military experts.

Joe Biden hosts military chiefs as Ukraine crisis enters a risky phase

Western countries have imposed sanctions against Russia in an effort to force the Kremlin to withdraw troops it sent into Ukraine on Feb. 24.

The West has not sanctioned metals-producing companies, seeking to avoid supply shortages that would push up prices for companies and consumers around the world.

But sanctions have targeted shareholders in some of these firms, which have faced an exodus of board members, complications paying foreign debt, problems importing foreign equipment and sharp falls in their share prices.

Boris Johnson to hand Stormer armoured missile launchers to Ukraine to unleash hell on Putin’s army

Many banks, shippers and consumers have sworn off new investment in Russia and avoided handling Russian metal, forcing Russian firms to find new supply routes.

Putin said: “There is no reason to believe that the behavior of our partners will fundamentally change."

“We must make changes to the structure of production and the supply of Russian metallurgical products,” he added, calling for an expansion in industrial capability and the range of products Russia produces.

Putin said the West’s “illegal” restrictions had cut off markets for Russian finished products and stopped Russian producers from buying components.

Vladimir Putin : Talks with Ukraine have reached a 'dead-end situation'

He said this ran counter to World Trade Organization rules and told his government to update Russia’s strategy in the WTO.

The Kremlin calls its actions in Ukraine a “special military operation” to demilitarise and “denazify” the country. However, Kyiv and its Western allies reject those arguments as a false pretext for an unprovoked attack.

Source: arabnews

Boris Johnson holds talks with Kurdish PM Barzani in London Italy announces initiative to limit air conditioning to reduce energy use

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”