Palladium is an excellent catalyst . Before I retired I was the technical exchange engineer for two corporations which had bought into the patents of a catalytic process using palladium doped resins , one in S. Korea the other in USA .
Pd has gone from about $ 900 an ounce about six weeks ago to almost $1200 today .
I suspect Putin is saying FU to Biden/Harris ( and by extension , Obama and Victoria Nuland for the Ukraine/Zelensky/NATO mess ) and the DC neocons . We are not all buying EV’s yet , so catalytic converters are still a steady market .