My First And Last Word On Racism: Any "linking" of the ancient Gods and faith in Them to modern materialistic concepts like racism and nationalism is the most vile and disgusting sort of perjury.
On a spiritual level, three Gods created humankind (the first man and woman) from two trees. Unlike the account we're given in certain monotheistic creation stories, equal gifts were given to man and woman at the same time: spirit (breath) from Odin, mind (will) from Honir, and warmth/fire (flesh) from Lothurr. See Voluspa 18. No mention is made of a certain race or an enumerated ethnicity being involved. When the gift of flesh is given, no note is made of its color. This is a general creation tale applicable to any child of Midgard who finds it compelling.
Sexism and racism have nothing to do with the Gods. They can call whomever They wish, through spirit, mind, and heart, Their gifts to us all.
Speaking Of Lothurr... Even distinctively non-Lokian sources acknowledge that Lothurr might be another name for Loki. My personal experiences with Loki have been positive: I would not be Heathen if it had not been for Him. I think that the Prose Edda, for all the wonderful stories it preserves, needs to be approached with a certain reserve. It is ultimately the writing of a Christian--one who cheerfully drags Troy into his discussions of Odin and so on.