US Imposes Sanctions on Use of Russian Metals on Exchanges

By Daniel Flatley and Jack Farchy – Bloomberg

The US announced new restrictions on trading in Russian aluminum, copper and nickel in a fresh bid to curb Russian President Vladimir Putin’s ability to fund his war machine, a move that risks rattling global metals markets.

The rules, which restrict the use of metals on global exchanges and in over-the counter derivatives trading, will apply to Russian aluminum, copper and nickel produced on or after April 13. Metals produced before that date are exempt. The US is also banning Russian imports of all three metals.