WASHINGTON (AP) — The U.S. and U.K. will begin restricting the trade of new Russian-origin metals — including aluminum, copper and nickel — on global metal exchanges and in derivatives trading. The announcement is meant to follow up on the Group of Seven nations’ commitment in February “to reduce Russia’s revenues from metals” as its invasion into Ukraine has dragged on for more than two years. Russia is a key exporter of metals like aluminum, steel and titanium — but British and American officials, who spoke on the condition of anonymity to preview the announcement, said the economic impact from the ban would be negligible for consumers and producers. The intent is to limit Russia’s revenues from metals, they say, as metals have earned the nation $40 billion in the past two years, according to British officials. “Our new prohibitions on key metals, in coordination with our partners in the United Kingdom, will continue to target the revenue Russia can earn to continue its brutal war against Ukraine,” said Treasury Secretary Janet Yellen in a news release. |
Police find body of missing Maine man believed killed after a search that took nearly a yearBoth bodies found five days after kayaks capsized going over a dangerous dam in IndianapolisBaltimore port to open deeper channel, enabling some cargo ships to pass after bridge collapseStoinis powers Lucknow to 6Paris main airport unveils new baggage handling system ahead of the 2024 OlympicsStarbucks vs federal labor agency: U.S. Supreme Court is set to hear oral argumentsCeline Dion reveals the reason she NEVER borrows clothes from top designers like other celebsFamily pay tribute to 'vibrant and loving' mother, 25, found dead in car in HackneyRemains believed to be missing woman, daughter found at West Virginia home on same day suspect diedTensions simmer near a shoal both China and the Philippines claim — Radio Free Asia