Russia directs metal exports to ‘friendly countries’

Russian Trade and Industry Minister Denis Manturov made assessments of the Russian metal and auto sectors at a meeting with government officials in the capital Moscow.

Stating that he will increase state support for the Russian auto industry, which has struggled due to sanctions, Manturov said: “We plan to increase the share of Russian-produced vehicles in the auto sector from 40 to 80 percent. by 2030. Our goal is to double car production and triple auto parts production by 2025, with increasing support from the state.”

ROUTE CHANGED DUE TO SANCTIONS

Stating that they plan to increase their production of rolled ferrous and non-ferrous metals, Manturov also said that they will take steps to increase demand in the Russian domestic market.

Underlining that the export routes of metal products changed due to the sanctions, Manturov said: “Russian metal production companies direct their exports to China, Turkey, the Commonwealth of Independent States (CIS) countries, Southeast Asia , Africa and Latin America, and these markets gain priority.” (AA)