LONDON, April 14 (Reuters) - CME Group ( CME ) has suspended
from its platform aluminium produced in Russia from April 13,
the exchange said on Sunday, after the United States and Britain
imposed new sanctions on Moscow for its invasion of Ukraine.
The U.S. Treasury Department and the British government on
Friday banned the 147-year old LME and the Chicago Mercantile
Exchange (CME) from accepting new Russian production of
aluminum, copper and nickel produced from April 13.
On its website the CME listed Russian aluminium brands that
could no longer be on warrant - a title document conferring
ownership - for delivery against its contracts.
"Aluminum from these brands produced prior to April 13,
2024, will continue to be eligible for warranting and delivery
against the exchange's aluminum futures contract," the CME said.
"All participants must ensure their participation in
delivery against the exchange's aluminum futures contract
complies with local laws and regulations, including applicable
economic sanctions."
The CME told Reuters on Saturday that it does not disclose
the origin or brands of the eligible or registered metal it has
in store and said this was consistent across all of its
physically delivered markets.
On Friday, a UK official said London expected any market
disruption to be short-lived and that the government had
consulted with colleagues in the U.S. as well as with the LME,
the Bank of England and the Financial Conduct Authority to
minimise any impact.
The announcement of the ban by the U.S. and Britain was made
after trading was closed for the weekend.