The London Metal Exchange has initiated a process of market feedback following the US Department of the Treasury's Office of Foreign Assets Control (OFAC) intention to remove sanctions against UC Rusal and En+ Group, issuing both a member note and press statement on Wednesday December 19.
In accordance with OFAC's decision to notify Congress of its plans to terminate sanctions - inclusive of a period of 30 days until effective removal - the LME has given its members, clients and other interested parties until December 28 to provide feedback, the exchange said in a note to members. "The LME notes the recent notification from OFAC regarding the proposed lifting...