UK sanctions target Russian metal
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ScrapPrices
Published on May 19,2023 08:00 AM Metals
British Prime Minister Rishi Sunak has announced plans for new import bans on Russian copper, aluminium, nickel and diamonds.
UK sanctions target Russian metal

LONDON, May 19 (Reuters) - British Prime Minister Rishi Sunak has announced plans for new import bans on Russian copper, aluminium, nickel and diamonds.

Along with the United States, Britain and the rest of the Group of Seven major economies are set to unveil fresh sanctions and export controls targeting Russia for its war against Ukraine, at the G7 summit in Japan this weekend.

Below are details of Britain's imports of the sanctioned metals and diamonds according to Trade Data Monitor.

COPPER

Britain did not import any refined copper from Russia last year or in 2021.

Last year, Britain imported a total of 15,252 tonnes or $135 million worth of refined copper. Most of that metal - 98% - came from Belgium.

ALUMINIUM

Britain imported 11,498 tonnes or $34.6 million worth of unwrought aluminium metal from Russia last year compared with 14,678 tonnes or nearly $36 million in 2021.

British aluminium imports totalled 141,816 tonnes last year, with 76% of that metal coming from South Africa, Iceland and United Arab Emirates.

The UK had not imported any aluminium from Russia in the first three months of 2023.

NICKEL

Britain imported 1,145 tonnes of refined nickel worth nearly $28 million from Russia last year and nothing the year before.

In 2022, British imports of refined nickel totalled 9,155 tonnes, with around 70% of that sourced from Australia, Finland and Norway.

The UK had not imported any nickel from Russia in the January to March period this year.

DIAMONDS

Britain imported $4.1 million worth of diamonds from Russia in 2022 compared with $188,794 in 2021.

Overall, Britain imported $1.628 billion worth of diamonds last year with 76% coming from Belgium, Israel, India and the United States.

There were no diamond imports from Russia in the three months to end-March 2023.

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