The US decision to block the London Metal Exchange and Chicago Mercantile Exchange from trading new Russian aluminum could impact the trade of this metal on the global market, the US-based Aluminum Association said in a statement to Sputnik.
(Bloomberg) The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of how the fallout from the war in Ukraine continues to ripple through commodity markets while creating opportunities for those willing to navigate the restrictions.Most Read from BloombergMusk’s $55 Billion Pay Package Voided, Threatening World’s Biggest FortuneByron Allen Makes $14 Billion Offer for Paramount GlobalMicrosoft Sales Top Estimates; Cloud Growth Disapp
Amid roadblock after roadblock in Europe over support for Ukraine, the European Union finally adopted its 12th Russia sanctions package on Monday after Austria withdrew its reservations over the weekend. Austria’s grievances were over the fact that Ukraine had put the country’s Raiffeisen Bank International, the largest Western bank still operating in Russia, on its list of “international sponsors of war.” Kyiv agreed on Dec. 16 to remove the bank from the blacklist.
(Bloomberg) Nearly two years since the invasion of Ukraine, a handful of western banks and traders from Citigroup Inc. to Trafigura Group are increasingly willing to enter new deals for Russian metals, seizing opportunities for profit while competitors hold back.Most Read from BloombergCanada Plans College Crackdown Amid Foreign Student TroublesIsrael Warns of ‘Long’ War as Invasion of Gaza Strip BeginsGM Hit With More Strikes While Stellantis Reaches Deal With UAWIsrael Enters ‘New Stage’ of