US Asks G-7 to Consider Sanctions on Russian Palladium and Titanium Amidst 40% Supply Control

Oct 23, 2024, 08:32 PM

On October 23, 2024, the United States requested its G-7 allies to consider imposing sanctions on Russian palladium and titanium. This move comes as Russia has declared its intention to diversify its reserves by adding silver, platinum, and palladium alongside gold. Russia is a significant producer of palladium, contributing 40% of the world's supply. The potential sanctions could drive palladium prices higher.