LME extends wind-down of Rusal hedges to Oct 23 following OFAC announcement

The London Metal Exchange has announced further guidance on treating sanction-affected contracts, highlighting an extended wind-down period for open positions with UC Rusal.

Following an April 23 announcement by the US Department of the Treasury’s Office of Foreign Assets and Control (OFAC), the LME has extended the period to close out contracts with Rusal from June 5 to October 23 of this year – in conjunction with the additional flexibility provided by the new General Licence...

Published

Hassan Butt

April 25, 2018

15:25 GMT

London