Restriction of Trade of Russian-Origin Metals by U.S. and U.K.

SOURCE www.breitbart.com
The U.S. and U.K. are restricting the trade of new Russian-origin metals to reduce Russia's revenues from metals due to its invasion into Ukraine. The ban will target aluminum, copper, and nickel but is expected to have a negligible economic impact. Metals produced before the ban will still be permitted for trading.

Key Points

  • U.S. and U.K. restricting trade of new Russian-origin metals
  • Ban includes aluminum, copper, and nickel
  • Metals produced before the ban will still be allowed for trading
  • Previous sanctions on Russian banks, elite, and financial institutions

Pros

  • Reducing Russia's revenues from metals used to fund the war against Ukraine
  • Targeted and responsible action to limit Russia's earnings

Cons

  • Potential negligible economic impact on consumers and producers