The London Metal Exchange (LME) plans to lift a ban on trading of some products of Russian aluminum giant UC RUSAL that was introduced earlier due to the U.S. sanctions, Bloomberg reported on May 21 citing Hong Kong Economic Journal.
LME is currently in talks with the government to study a possibility of trade of some RUSAL products on the bourse, LME CEO Matthew Chamberlain said.
The temporary ban was introduced in mid-April until RUSAL provided proof to LME that it did not violate 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)