Putin cited uranium, nickel, and titanium but indicated that restrictions could also be introduced for other commodities, noting that Russia was a major producer of natural gas, diamonds and gold.
Putin also said any curbs did not need to be implemented immediately and that they must not harm Russia itself.
Commodity exports are a significant source of foreign currency revenue for some of Russia's largest companies, including state-owned Rostec and Rosatom, as well as Nornickel .
These companies collectively provide jobs for about one million people.
Below is Russia's position in markets of key non-energy commodities mentioned by Putin and other export commodities that could be affected.
URANIUM
Russia is the world's sixth largest uranium producer and controls about 44% of global uranium enrichment capacity. In 2023, the U.S. and China topped the list of Russian uranium importers, followed by South Korea and France.
In May, U.S. President Joe Biden signed into law a ban on enriched uranium imports from Russia, a trade worth around USD 1 billion annually. However, it included waivers in case of supply concerns through 2027.
Russia accounted for 27% of the enriched uranium supplied to U.S. commercial nuclear reactors last year.
NICKEL
Russia is home to Nornickel, which used to be the world's leading nickel producer until Indonesia boosted its nickel industry several years ago, creating a surplus in the global market.
Nornickel's production currently accounts for 6% of global primary nickel output. However, its share in global production of high quality nickel known as Class 1 is still high - at 19%.
More than one fifth of available nickel stocks in LME-registered warehouses is of Russian origin.
Nornickel has been pivoting towards Asia, with that region accounting for over 50% of its global sales and China the biggest buyer. Europe accounts for 24% of sales.
In April, the United States and Britain prohibited metal-trading exchanges from accepting new nickel, copper and aluminium produced by Russia and barred the import of the metals.
TITANIUM
Russia is the world's third-largest producer of titanium sponge, with a 6% share of the global market of the material that is turned into metal for industrial applications in the aerospace, marine, and auto industries.
Ukraine was a major exporter of titanium concentrate to Russia before 2022.
China is the biggest producer with a 58% market share. Titanium is increasingly being used in mobile phones, with Apple launching a new series of iPhones that included a titanium shell.
Russia's largest titanium sponge maker VSMPO-AVISMA supplied titanium to both Boeing and Airbus before the Ukraine war. Canada imposed sanctions, but granted waivers to Airbus plants in the country to keep using Russian titanium.
Boeing stopped buying titanium from Russia less than two weeks after the start of the war with Ukraine in 2022.
Russian customs data show that the United States still buys Russian titanium, but the biggest purchasers are France, China, and Germany.
GOLD
Russia ranks second among global gold producers after China with a 9% share of global production.
Hong Kong was the largest importer of gold from Russia in 2023, according to Trade Data Monitor (TDM). All the country's major gold producers, including No. 1 Polyus, are under Western sanctions.
DIAMONDS
Russia is the world's largest rough diamond producer by volume, with sanctioned miner Alrosa accounting for over 30% of global production. Russia exported diamonds mostly to United Arab Emirates, India, Hong Kong, Belgium, China in 2023.
The Group of Seven (G7) countries banned direct imports of Russian diamonds in January 2024.
A European Union and G7 ban on imports of Russia-origin diamonds via third countries came into effect in March. Russia said it will regularly buy diamonds from the sanctions-hit producer through a state fund.
ALUMINIUM
Russia's Rusal is the world's largest aluminium producer outside China with about 5.5% of the world production in 2023. It is supplying the metal to Asian and European markets.
China has become Rusal's largest customer with 23% share of exports in 2023, up from 8% in 2022.
PALLADIUM AND PLATINUM
Nornickel is the world's largest producer of palladium and a major producer of platinum with 41% and 11% share of global production respectively.
The largest buyers of palladium from Russia were Hong Kong, U.S, China and Japan in 2023, according to TDM.
COPPER
Russia produced 1 million metric tons of refined copper last year, about 3.7% of the world's total, according to the U.S. Geological Survey (USGS), of which Nornickel produced 425,000 tonnes. Asia and Europe are Russia's main export markets.
COBALT
Russia produced 8,800 tonnes of cobalt last year, about 4% of the world's total, according to USGS data. Russia is the third largest producer, lagging behind the Democratic Republic of Congo and Indonesia.
Nornickel is the largest producer of cobalt in Russia with China as the main buyer in 2023. The market has been in oversupply from Congo and Indonesia despite rising demand for the metal from electric vehicle battery makers.
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