Potanin: Norilsk Nickel shifts focus to work in Russia

The head of Norilsk Nickel, Vladimir Potanin, said that against the backdrop of sanctions, the company abandoned plans to enter other markets. According to him, Norilsk Nickel is restructuring its investment policy, focusing on Russia. The company was also forced, in particular, to adjust the supply chains.

In an interview RBC he said that the company “had plans for some businesses to expand into other markets.” In addition, Norilsk Nickel has participated in several start-ups in other countries “in the hope of bringing them to Russia.” Now such opportunities have almost completely disappeared, Mr. Potanin admitted.

“The whole paradigm of our business, which was more tied to involvement in the international chain of product and technology creation, is now being reoriented to domestic history with an attempt to involve some friendly countries and partners in this. Somewhere it works, somewhere it doesn’t. In general, this is a serious change in the planning system and in the system of expectations,” Vladimir Potanin noted.

He clarified that although no sanctions were imposed against Norilsk Nickel, the company is still forced to adjust its strategy. “We are restructuring logistics chains to more friendly countries, primarily to China, Turkey, Morocco and other Arab countries. Therefore, this does not directly affect the life of the company, its survival, but, of course, it limits its capabilities, including financial and development of those markets in which it has traditionally been. It is more difficult to keep them, and it is expensive to win new ones, ”he said.

In January, Mr. Potanin’s Interros redomiciliated (transfer of a company from one jurisdiction to another without the need to close it) another Cypriot company in a special administrative region on Russky Island. Businessman explainedthat the choice of Russky Island is due to the fact that the Interros group plans to become an anchor investor in the Russian Far East.

On the plans of Norilsk Nickel – in the publication “Kommersant” “Surplus weighs on nickel”.

Laura Keffer