Index provider FTSE Russell will remove stocks of the Russian aluminum giant UC RUSAL and En+ Group from its indices from April 13 due to the companies being blacklisted by the U.S., it said in a statement on April 11.
The London Metal Exchange (LME) said it would suspend trading in RUSAL’s metals from April 17 in light of the sanctions.
The New York Commodity Exchange (COMEX) said it immediately canceled registrations and deliveries of some aluminum brands produced by RUSAL.
Reuters reported citing sources that RUSAL had activated a contingency plan asking customers to pay in euros instead of U.S. dollars to try to skirt round the U.S. sanctions.
On April 6 the U.S. imposed sanctions against a total of 38 Russian tycoons, officials and companies, including Oleg Deripaska. (Prime/Ukrainian metal)