Finnish aluminium exports to Russia doubles with no 'technical' violations of the sanction
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.
Unlock full access – sign up for FREE.
Key benefits
Hind Aluminium reports an improved Q2 results, with a 44% rise in net sales
Next articleMaxion Wheels to source power from its newly launched solar firm in Chihuahua
Grow with
AL Circle
