London Metal Exchange intends to ban Russian products
The head of the London Metal Exchange, Matthew Chamberlain, said he was discussing with the UK government a ban on Russian metals.
“Right now, Russian minerals are not subject to sanctions, so their supply is allowed. We’re definitely working with the government to convey market concerns to them and we’ll see where it goes,” Chamberlain was quoted by Bloomberg as saying.
According to him, the acquisition of Russian metals worries the representatives of the site, since the London Metal Exchange wants to ensure that it “does not finance the commission of any atrocities.”
Earlier it was reported that Russia’s Severstal has stopped the export of steel products to EU countries due to sanctions. Severstal faced the refusal of European customers to purchase their products due to the sanctions imposed on the main owner of the metallurgical company, Alexei Mordashov.
Experts considered that despite the fact that Severstal was not included in the sanctions list, supplying him, as well as other structures controlled by Mordashov, would be considered indirect provision of it to the blacklisted person.
