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UK plans to forbid aluminium and other commodities from Russia

UK plans to forbid aluminium and other commodities from Russia

A recent report states Britain will ban aluminium imports from Russia, among other commodities like diamond, copper and nickel.
British Prime Minister Rishi Sunak said, “We will legislate later this year to ban imports of Russian diamonds, and end all imports of Russian-origin copper, aluminium and nickel.”
But the ban is expected to have a mild impact as Russian exports of aluminium and other materials to the United Kingdom have already dropped since the tariffs came into effect.
The United Kingdom has already sanctioned more than 18 billion pounds ($22.7 billion) of Russian assets in the UK and sanctioned over 20 billion pounds of UK-Russia goods trade.
“The LME will closely monitor the latest development for further details and will communicate to the market in due course should the LME consider any further action is required beyond the suspension that is already in place,” it said on Friday.

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