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Commodities in Focus Weekly - New sanctions rules on Russian metals: How will they impact global trade?
In a move to "clamp down harder"1 on the trade of Russian metals, the UK and the US have blocked the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) from trading new aluminium, copper and nickel produced by Russian producers. The LME and the CME are the two largest metal exchanges worldwide and provide global benchmark prices for the trade of base metals.
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1 https://www.gov.uk/government/news/uk-and-us-to-clamp-down-harder-on-the-trade-of-russian-metals