Investigate Europe: European companies have purchased 13.7 billion euros worth of critical raw materials from Russia since March 2022

The outlet Investigate Europe reported that European companies have imported 13.7 billion euros worth of metals from Russian mining companies between March 2022 and July 2023, according to data from Eurostat and the E.U.’s Joint Research Center.

From January to July 2023, European companies imported Russian metals worth more than 3.7 billion euros, including 1.2 billion euros of nickel. The European Policy Center estimates that up to 90% of some nickel used in Europe comes from Russian suppliers.

Investigate Europe notes that, despite sanctions, exemptions remain for trade in critical raw materials. Oil, coal, steel and timber were included in the sanctions lists, but minerals considered critical by the E.U. (34 in total) are still sourced from Russia, including from companies close to the Kremlin.

Journalists explain that the E.U. relies on these raw materials to achieve its goal of climate neutrality by 2050. These materials are used in electronics, solar panels, electric vehicles, as well as for aerospace and defense.

According to Investigate Europe, among the largest buyers of Russian metals are the German GGP Metal Powder (purchased $66 million of copper), French weapons manufacturer Safran (purchased $25 million of titanium), Greek ElvalHalcor (purchased $13 million of aluminum), and Dutch C.Steinweg (purchased various metals for $100 million).