US bans import of aluminium, copper and nickel of Russian origin

The Office of Foreign Assets Control (OFAC) of the US Department of Treasury has announced a ban on imports of aluminium, copper and nickel of Russian origin. The relevant document is published on the agency's website.

Source: Office of Foreign Assets Control (OFAC) of the US Department of Treasury

Details: As a result, the import and importation of aluminium, copper and nickel of Russian origin into the United States, except as provided by law or under a licence, is prohibited.

OFAC added that US companies are now prohibited from conducting transactions with metals of Russian origin, including their export and re-export. It is specified that the restrictions will not apply to metals from the Russian Federation that were produced before 13 April 2024.

In addition, the US and UK authorities have decided to limit the use of Russian aluminium, copper and nickel on global metal exchanges. As a result, the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) will be prohibited from accepting Russian metals produced after 13 April. 

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