In a coordinated effort, the United States and the United Kingdom have taken decisive action to impede Russian export revenue by prohibiting the acceptance of new aluminum, copper, and nickel produced in Russia. Additionally, the import of these metals into the US and Britain has been barred, signaling a targeted response to Moscow’s continued aggression in Ukraine, which has resulted in widespread devastation and loss of life.
The measures specifically target Russia’s significant production of aluminum, copper, and nickel, with the aim of limiting the financial resources available to Russia amidst its involvement in the conflict in Ukraine. Notably, Russian metals producers Rusal and Nornickel have yet to respond to requests for comment, and the Russian embassy in Washington has not provided an immediate statement in response to these developments.
The US Treasury Department announced that the London Metal Exchange and Chicago Mercantile Exchange are now prohibited from accepting new Russian production of aluminum, copper, and nickel. Treasury Secretary Janet Yellen emphasized that these measures, undertaken in collaboration with the UK, are designed to curtail Russia’s financial capacity to sustain its military activities in Ukraine while safeguarding allied nations from adverse repercussions.
This targeted and strategic approach underscores the international community’s commitment to holding Russia accountable for its actions, aiming to limit the resources available to support its military efforts in Ukraine while minimizing potential spillover effects on partner nations and allies.