New UN sanctions won't hurt our aluminium supply, says Russian firm Rusal

Russian aluminium producer Rusal said on Monday that new sanctions introduced by the United States and Britain will have no impact on its ability to supply aluminium.
 

Washington and London on Friday prohibited metal-trading exchanges from accepting new aluminium, copper and nickel produced by Russia and barred the import of the metals into the United States and Britain.
 

The action is aimed at disrupting Russian export revenue in response to what Moscow calls a "special military operation" in Ukraine. Russia is a major producer of aluminium, copper and nickel.
 

"The announced actions have no impact on Rusal's ability to supply since Rusal's global logistic delivery solutions, access to banking system, overall production and quality systems are not affected," Rusal said in a statement.
 

"These actions do not impose any new prohibitions or requirements relating to the processing, clearing or sending of payments by any intermediary banks, including the U.S. banks." Rusal said the LME actions appeared to be strictly related to the exchange and derivatives. The company said it would still be able to provide hedging services to customers and remained committed to market-based pricing.
 

Russian mining giant Norilsk Nickel has not yet commented on the sanctions.