Washington banned, on Friday April 12, the importation into the United States of aluminum, copper and nickel of Russian origin, as part of additional sanctions taken with the United Kingdom and aimed at reducing revenues. from Moscow.
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“ This new action prohibits the import of aluminum, copper and nickel of Russian origin to UNITED STATES and limits the use of aluminum, copper and nickel of Russian origin in global metal markets and in over-the-counter derivatives trading “, indicated the US Department of the Treasury in a press release.
Metals are the main export product of the Russia after energy, even if their value has decreased since the invasion of Ukraine by the Russian army, details the British government in a separate press release. Exports, from 25 billion dollars in 2022, fell to 15 billion dollars in 2023 “ due to efforts by the G7 and its allies to restrict the market », It is specified. The measures taken on April 12 aim to further reduce the revenues that Russia derives from its exports of aluminum, copper and nickel.
“ By taking joint measures, the United States and the United Kingdom deprive Russia and its metal producers of an important source of income », Specifies the American Treasury. In addition to banning the import of these metals into the United States, both countries have also taken steps to limit the trading of these metals in global markets. “ Metal exchanges, such as the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME), will not be allowed to accept aluminum, copper and nickel produced by Russia. Metal exchanges play a central role in facilitating the trade of industrial metals around the world “, underlines the Treasury.
Jeremy Hunt, Chancellor of the Exchequer of the United Kingdom, for his part emphasized that “ it is easier to neutralize Putin’s ability to wage his illegal war in Ukraine when we act alongside our allies […]. Our decisive action with the United States to jointly ban Russian metals from the two largest exchanges will prevent the Kremlin from pumping more money into its war machine “.
Russian uranium and titanium still too essential
Until now, American sanctions against Moscow were mainly financial. Several Russian banks were thus targeted, as was the Russian payment system Mir. People, organizations and technology companies – a total of 4,000 entities – have also been blacklisted in the US, and action has been taken against the “ ghost fleet » of Russian tankers, these ships used by Moscow to circumvent the cap on the price of Russian oil.
On the other hand, Russian uranium and titanium are not affected, at this stage, by these new measures. It must be said that these two metals remain essential to the American economy. A dependence which, however, is increasingly being singled out in the United States.
These measures take effect from Saturday.
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