The US Treasury Department’s Office of Foreign Assets Control (OFAC) announced a ban on the import of aluminum, copper and nickel of Russian origin, Meduza reports, citing a relevant document published on the department’s website.
American companies are now prohibited from conducting operations with metals of Russian origin, including their export and re-export. It is clarified that the restrictions will not affect metals from the Russian Federation that were produced before April 13, 2024.
In addition, the US and UK authorities decided to limit the use of Russian aluminum, copper and nickel on world metal exchanges. As a result, the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) will be prohibited from accepting Russian metals produced from April 13.