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.
Related articles:
Related suggestion:
Shohei Ohtani hits 450Chinese envoy calls on U.S. to find right way to get along with China in new eraSurge in Channel crossings as one in five small boats migrants are now from Vietnam, figures showKorean War veteran will finally get his Purple Heart medal, 73 years lateJennifer Lopez looks terrified in new trailer for her sciI'm a nutritionist for cancer patientsNASA leaders discuss global challenges, solutions with Mexico president, lawmakers and studentsMy friend's sausage dog ripped off a chunk of my cheekTragedy as five migrants die crossing Channel trying to reach BritainDominica joins other Caribbean islands in striking down laws prohibiting gay sex
2.4991s , 6501.640625 kb
Copyright © 2024 Powered by The US and UK restrict the trade of Russian ,Global Glossary news portal