Anastasia Levchenko, Researcher at the Gaidar Institute’s Industrial Organization and Infrastructure Economics Department, spoke to Nezavisimaya Gazeta about the prospects for Russian helium and the factors preventing it from becoming a fully-fledged export commodity.
The U.S. Department of Energy has included helium on its list of critical materials for strengthening national security and protecting supply chains. Against this backdrop, Russia’s export potential for this strategic raw material is limited not only by a shortage of specialized transport containers but also by growing sanctions pressure.
“The market for Russian helium is extremely narrow and continues to shrink under the pressure of sanctions. The European Union imposed a ban on Russian helium imports as early as 2024 as part of its 14th sanctions package. In the U.S., members of Congress and senators from both parties have repeatedly called on the administration to ban imports of Russian noble gases, including helium, citing national security threats. And the risk of such a ban being imposed remains high, which is deterring Western buyers from entering into long-term contracts. The U.S. Department of Energy’s inclusion of helium on the list of critical materials only heightens regulators’ focus on supply chains and may accelerate the introduction of restrictions,” the expert explains.
Russian helium exports are critically dependent on China. While diversification toward other Asian buyers (Japan, South Korea, Taiwan) is being discussed, it faces logistical challenges and competition from traditional suppliers (Qatar, the U.S.), as well as the risk of secondary sanctions. “Thus, a competitive market with several equivalent buyers is not taking shape. Russia is forced to become a supplier primarily to China, which reduces its bargaining power and increases its vulnerability to market conditions in a single market,” concluded Anastasia Levchenko.