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LME moves to stop gaming of Russian aluminium sanctions-based rule
The London Metal Exchange (LME) moved on Tuesday to stop traders from taking Russian aluminium from its approved warehouses and returning it at a later date to profit from rule changes to comply with new sanctions. The US and Britain earlier this month banned the LME from accepting new Russian production of aluminium, copper and nickel to restrict Russian revenues from the export of these metals. The London exchange has banned from its system Russian aluminium, copper and nickel produced from April 13 to comply with the sanctions imposed over Russia's invasion of Ukraine. For metal produced before April 13, LME rules ... (full story)