The Kremlin: The Cabinet is studying steps to deal with sanctions on Russian metals

Kremlin spokesman Dmitry Peskov said today, Wednesday, that the government is discussing various options for action regarding the American and British sanctions on Russian copper, aluminum, and nickel imports.

Peskov added – in a statement to reporters; In response to a question about whether there are plans to support the local non-ferrous metals industry after the US and British sanctions – “Industry representatives are in close contact with the government. Of course, this is a systemically important industry. Of course, the government is discussing different options to deal with this situation.”

It is noteworthy that on April 12, the United Kingdom and the United States extended sanctions against Russia regarding metals trade, and prevented the London Metal Exchange and the Chicago Mercantile Exchange from replenishing their warehouses with aluminium, copper and nickel. Using supplies from Russia.

London and Washington indicated in a joint statement that the new restrictions do not apply to the existing reserves of Russian metals in the warehouses of the two stock exchanges, and they are still allowed to conduct commercial operations with them. However, both sites will not be able to purchase Russian copper, aluminum and nickel.

Last December, the UK completely banned the import of copper, aluminum and nickel from Russia.

While in the United States, a similar ban is now in effect, it does not apply to minerals mined before April 13, 2024.