London Metal Exchange Lifts Ban On Deals With Russia's Rusal After US Removes Sanctions

London Metal Exchange Lifts Ban on Deals With Russia's Rusal After US Removes Sanctions

The London Metal Exchange (LME) lifted restrictions on warranting Rusal-branded metal after the United States removed sanctions on the Russian aluminum giant, the LME said in a statement Monday

LONDON (Pakistan Point News / Sputnik - 28th January, 2019) The London Metal Exchange (LME) lifted restrictions on warranting Rusal-branded metal after the United States removed sanctions on the Russian aluminum giant, the LME said in a statement Monday.

"Following [US Office of Foreign Assets Control] OFAC's lifting of the Sanctions against Rusal, the LME has removed all previous restrictions around warranting of Rusal brand metal. It is also possible for members to enter into contracts with Rusal. These changes come into effect immediately," an LME spokesperson said.