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The US and UK Restrict the Trade of Russian-origin Metals

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Russia Ukraine War Metals Trade Exchange News

The U.S. and U.K. will begin restricting the trade of new Russianorigin metals including aluminum, copper and nickel on global metal exchanges and in derivatives trading.The announcement is meant to follow up on the Group of Seven nations' commitment in February 'to...

WASHINGTON — The U.S. and U.K. will begin restricting the trade of new Russian-origin metals — including aluminum, copper and nickel — on global metal exchanges and in derivatives trading.

Russia is a key exporter of metals like aluminum, steel and titanium — but British and American officials, who spoke on the condition of anonymity to preview the announcement, said the economic impact from the ban would be negligible for consumers and producers. “Our new prohibitions on key metals, in coordination with our partners in the United Kingdom, will continue to target the revenue Russia can earn to continue its brutal war against Ukraine,” said Treasury Secretary Janet Yellen in a news release.

 

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