The UK and the US have announced that new aluminium, copper and nickel produced by Russia will no longer be traded at the world’s two largest metal exchanges.
NEWS: Thanks to action so far by G7 partners, Russian metals exports have been reduced by a quarter between 2022 & 2023. It is hoped the latest round of exemptions will help to cripple Vladimir Putin’s war machine by constraining Russia’s ability to make money from new metals.They are not expected to prevent Moscow from being able to sell metals altogether but are likely to affect prices, so that Russian metals are being exchanged at a discount.
The ban is the latest in a wide-ranging package of sanctions the UK has imposed on the Russian economy.
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