MOSCOW, April 13. The UK has joined US sanctions against Russia regarding metals trading, according to a statement on the British government website.
According to the statement, “The London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) will no longer trade new aluminum, copper and Russian-made nickel.»
It is noted that the restrictions do not apply to those metals that are already in the stocks of exchanges.
It also follows from the statement that changes have been made to the trade license.
«Prohibit UK persons (and non-UK citizens located in the UK) from purchasing on a global metal exchange a guarantee for Russian metal that was produced after 23.59 on 12 April 2024; allow UK persons (and non-UK citizens and located in the UK) to carry out physical delivery outside the UK of metals that were at that time guaranteed on the global metal exchange,» the statement said.
Previously, the US authorities imposed a ban on the import of Russian aluminum, copper and nickel into the country origin. The US decision to ban the import of aluminum, copper and nickel of Russian origin will also limit their use on world exchanges.