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New Sanctions Bar UK Entities From Trading Most Russian Metals
New UK sanctions will prohibit British citizens and companies from trading in a wide range of Russian metals, according to documents published by the government Thursday. Prices of metals produced by Russia surged as panicky traders struggled to understand how widespread the impact of the measures would be. Aluminum rose as much as 3.7% and copper 3.1%. Palladium, which isn’t covered, jumped as much as 12%. In legislation published by the UK government, new restrictions were introduced stating a UK person “must not directly or indirectly acquire metals which originate in Russia or are located in Russia.” The ... (full story)