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US Imposes Sanctions on Use of Russian Metals on Exchanges
The US and UK announced new restrictions on trading in Russian aluminum, copper and nickel in a fresh bid to curb President Vladimir Putin’s ability to fund his war machine, a move that risks rattling global metals markets. The rules prohibit the London Metal Exchange — where global benchmark prices are set — as well as the Chicago Mercantile Exchange from accepting new supplies produced by Russia. The restrictions apply to copper, nickel and aluminum produced on or after April 13, and the US is also banning Russian imports of all three metals. The decision is unlikely to prevent Russia from being able to sell ... (full story)