The U.S. and U.K. will restrict the trade of new Russian-origin metals, including aluminum, copper, and nickel, in global metal exchanges and derivatives trading. The move aims to reduce Russia's revenues from metals due to its invasion into Ukraine.
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.
UK U.S. Joint Sanctions Russian-Origin Metals Aluminum Copper Nickel Global Metal Exchanges Derivatives Trading Russia Invasion Ukraine Economic Impact Consumers Producers Revenues
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