Apr.11 (LTIT) –The London Metal Exchange is conditionally suspending the placing of Rusal metal on warrant in response to US sanctions on the owner of the Russian aluminum producer, the LME said Tuesday.
The exchange's action would be effective April 17, it said in a statement.
"The aim of the temporary conditional suspension is to ensure that metal potentially subject to sanctions does not enter the LME network, and provides time for the LME to work with regulators, members and clients to establish a longer-term view on the continued listing of Rusal brands," it said.
On Friday, the US sanctioned a set of Russian individuals and entities, including Rusal owner EN+ Group, in response to what one senior Trump administration official called the "totality" of Russia's aggressive actions. |