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Industrial Metal News – Late April 2024

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UK and U.S. to clamp down harder on the trade of Russian metals

  • Russian metal producers blocked from profits from the London Metal Exchange and the Chicago Mercantile Exchange, reducing a crucial source of revenue for the Kremlin.
  • Joint UK and U.S. action builds on ban of metal imports, targeting $40 billion of Russian exports of aluminium, copper and nickel.

The UK and the U.S. have together announced joint action to clamp down harder on prohibited Russian metal exports, by today bringing the world’s two largest metal exchanges into the scope of the existing bans.

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