Industry News

Finnish aluminium exports to Russia doubles with no 'technical' violations of the sanction

Views : 89
Update time : 2024-11-26 16:42:34
Amid mounting tensions between Russia and European Union (EU) EU nations, recent revelations about Finnish aluminium exports doubling to Russia have stirred debates over sanction compliance. A family business from Turku, an international manufacturer of studs for winter tyres, is responsible for the export boost. This report came as Finland's broader trade with Russia kept witnessing a steep plunge, falling by nearly 69 per cent over two years due to stringent sanctions and shifting geopolitical dynamics.

The contradiction: aluminium exports vs. overall trade decline

While most Finnish companies have reduced their trade with Russia, a select few have capitalised on exceptions in EU sanctions. These loopholes allow the export of non-restricted items, such as winter tyre studs, creating an avenue for increased aluminium trade. The export swell is vividly owed to Turvanasta, a family-owned company established in the 1980s that produces these studs. One of Turvanasta's co-owners is Ia Adlercreutz, wife of Education Minister Anders Adlercreutz, who also chairs the Swedish People's Party (SPP). Only Turvanasta, out of the three companies producing these items, exports to Russia.

Related News
Read More >>
LME aluminium cash price rises to $2,878.5/t on October 27 as stocks dip to 469,275t LME aluminium cash price rises to $2,878.5/t on October 27 as stocks dip to 469,275t
Oct .28.2025
LME aluminium cash price rises to $2,878.5/t on October 27 as stocks dip to 469,275t
Profits cool for Egyptalum as Q1 FY2025/26 reveals a 43% slump Profits cool for Egyptalum as Q1 FY2025/26 reveals a 43% slump
Oct .28.2025
Profits cool for Egyptalum as Q1 FY2025/26 reveals a 43% slump
AAF enhances aluminium finishing capabilities with advanced technology upgrades AAF enhances aluminium finishing capabilities with advanced technology upgrades
Oct .28.2025
AAF enhances aluminium finishing capabilities with advanced technology upgrades
QAMCO maintains momentum: 9M profit rises to $146.6M, Q3 sales jump 13% QAMCO maintains momentum: 9M profit rises to $146.6M, Q3 sales jump 13%
Oct .28.2025
QAMCO maintains momentum: 9M profit rises to $146.6M, Q3 sales jump 13%