LME’s Special Committee removes conditional suspension on Rusal material

The London Metal Exchange’s Special Committee has removed the “temporary conditional suspension” on Rusal metal, allowing the warranting of all material dated before and after April 6, 2018, to resume, it said in a note to members on Monday January 28.

The move comes after the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) decision to remove sanctions imposed on En+, UC Rusal and JSC EuroSibEnergo (ESE), which subsequently removes Oleg Deripaska and the companies from OFAC’s List of Specially Designated Nationals and Blocked Persons.

The LME’s subsequent market feedback procedure, which invited members to provide feedback...


Hassan Butt

January 28, 2019

11:25 GMT