Russia possesses the third-largest tungsten resource base in the world, with proven reserves amounting to 1.3 million tons of tungsten trioxide. However, until 2022, a significant portion of Russian tungsten concentrate was exported abroad, primarily to “unfriendly countries.” After the start of Russia’s full-scale invasion of Ukraine, these exports were suspended, leading to the shutdown of several mining enterprises. Currently, tungsten extraction and production in Russia take place only at the Vostok-2 deposit in Primorsky Krai, which is already almost depleted.
The transit of Russian oil to China through the Atasu–Alashankou pipeline, which passes through Kazakhstan, has come under threat following the imposition of U.S. blocking sanctions against Rosneft. Every year, the company transports about 10 million tons of Siberian oil via this route, while KazTransOil receives $15 per ton of transit under a 2023 contract. Future deliveries now depend on a decision by the U.S. Department of the Treasury: if it issues a general license exempting the pipeline from sanctions, transit will continue as usual. Otherwise, Kazakhstan will face a choice — to halt pumping or risk secondary sanctions.
The European Commission has added Russia to the list of countries with “strategic deficiencies” in their systems for combating money laundering and terrorist financing. The relevant decision was published on December 3 on the EC’s website. Once it takes effect — unless the European Parliament and the EU Council object within a month — financial institutions in the EU will be required to apply enhanced due diligence measures when dealing with Russian counterparties and transactions linked to the Russian Federation.
