New US and UK sanctions on Russian aluminium, nickel and copper will exacerbate price volatility and trigger higher costs for consumers, a Nornickel spokesman said.
“Nornickel regrets the decision as it will exacerbate price volatility, increase uncertainty in the supply chain and provoke an increase in the final price,” he was quoted by TASS as saying.
According to the spokesman, it will also increase the risk of market disruptions due to reduced metal liquidity.
Earlier, the US banned imports of Russian-origin aluminium, copper and nickel.
Subsequently, nickel and aluminium prices rose amid new anti-Russian sanctions.