9,484.26 TRY BIST 100 BIST 100
37.93 USD USD USD
5.23 CNY CNY CNY
41.82 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
45.20 TRY Interest Interest
69.56 USD Fossil Oil Fossil Oil
31.51 USD Silver Silver
4.76 USD Copper Copper
102.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,797.04 TRY Gold (gr) Gold (gr)

US and UK impose ban on Russian metal imports

A prohibition has been enforced by both the United States and the United Kingdom regarding the importation of specific metals from Russia into the warehouses of two major exchanges, namely the London Metal Exchange (LME) and the Chicago Stock Exchange (CME).

US and UK impose ban on Russian metal imports

The ban, slated to commence on April 14th, targets shipments containing aluminum, copper, and nickel, as reported by the Russian media outlet Kommersant.

The US Treasury has indicated a possibility of exceptions to the ban under certain circumstances. Although the regulations will be applicable to shipments released post-April 13th, exemptions might be entertained based on specific situations.

According to statistics from the U.S. Census Bureau, there has been a noticeable decline in metal imports from Russia. In 2024, only $105,000 worth of aluminum was imported, a stark contrast to the $612 million figure recorded in 2021. Similarly, copper imports plummeted from $100 million in 2021 to a mere $53,000 by 2023, while nickel imports saw a decline from $158 million to $26 million within the same timeframe.

Anatoly Antonov, the Russian Ambassador to Washington, criticized the U.S. sanctions on copper, nickel, and aluminum, characterizing them as a political maneuver extending beyond a mere "shot in the leg" to encompass "indiscriminate shooting."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

ArcelorMittal South Africa closure delayed by six months

Friday, April 4, 2025

EUROMETAL discusses critical steel sector issues with European Commission

Friday, April 4, 2025

Kuzey Boru signed a TRY 74 million tender contract

Friday, April 4, 2025

SSAB and SMS group announced collaboration

Friday, April 4, 2025

Türkiye's welded pipe exports decreased by 9.6% in February

Friday, April 4, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now