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. |
Israel, Iran show restraint. But for how long?Owen Miller's twoKawhi Leonard will miss Game 1 for Los Angeles Clippers against Dallas MavericksLuis Gil gets 1st big league win in 3 years, pitches Yankees over Rays 5New Elizabeth SmartOlympic champion Jepchirchir wins women's race at London MarathonAn explosion razes a home in Maryland, sending 1 person to the hospitalAlicia Keys is a diva in double denim as she and Maleah Joi Moon rock abJosh Naylor's 3 RBIs sends Guardians to 6Luis Gil gets 1st big league win in 3 years, pitches Yankees over Rays 5