London Metal Exchange should suspend trading metals of all russian companies. Currently, trade is limited to companies subject to UK, EU and USA sanctions, but such a policy should apply to all metallurgical business of the aggressor-country.
Dmytro Olyinyk, President of the Federation of Employers of Ukraine, and Sergii Bilenkyi, President of the Federation of Metallurgists of Ukraine, addressed to LME with such initiative.
“Open trading platforms, provided by LME, allow sanctioned companies to avoid the required pressure. We believe that such course of events cannot be allowed” – written in a letter from the Ukrainian side.
Previously, London Metal Exchange already published it’s statement with regards to impacts of recent USA, UK and EU sanctions, calling listed brands to act accordingly to achieve sanctions compliance. However, this is not enough to isolate aggressor-country from the civilized business community. Therefore, the Ukrainian side hope that the LME will demonstrate it’s position on the war in Ukraine and contribute to stopping numerous violations of international law.