The US and UK restrict the trade of Russian
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
Investigators return to Long Island home of Gilgo Beach serial killing suspect
MASSAPEQUA PARK, N.Y. (AP) — Investigators returned Monday to the home of a New York architect charg2024-05-21A Dubai company’s staggering land deals in Africa raise fears about risks to Indigenous livelihoods
ABUJA, Nigeria (AP) — Matthew Walley’s eyes sweep over the large forest that has sustained his Indig2024-05-21Book Review: Hampton Sides revisits Captain James Cook, a divisive figure in the South Pacific
Captain James Cook’s voyages in the South Pacific in the late 1700s exemplify the law of unintended2024-05-21Vikings had windows, another shift away from their image as barbaric Norsemen, Danish museum says
COPENHAGEN, Denmark (AP) — Vikings had windows — usually only associated with medieval churches and2024-05-21- Israel’s defense minister said Monday the military would expand its operations in the southern Gaza2024-05-21
The Masters is at the center of the golf fashion universe
AUGUSTA, Ga. (AP) — At a place where green jackets never go out of style, the sometimes-wild, often-2024-05-21
atest comment