Kremlin sees reciprocal effect in US ban on Russian metals : Analysis

Dmitry Peskov pointed out that the new Western sanctions targeting Russian metals are two-edged. The US and UK sanctions aim to diminish Moscow’s export revenues by restricting aluminum, copper, and nickel. Peskov stated that these sanctions will backfire and cause market destabilization, as shown by the rally on commodity exchanges. Aluminum surged up to 9.4% on the LME on Monday, while nickel rose 8.8%. The sanctions will affect metals produced in Russia after April 13, 2024. The LME and CME must ban their trade, bringing uncertainties to the market. The LME clarified that old Russian aluminum can still be delivered. Russia accounts for 6% of global nickel supply, 5% of aluminum, and 4% of copper, with expectations of increased metal supplies to China due to the sanctions.

Analysis:
The article on the new Western sanctions targeting Russian metals presents information on the potential impact of these sanctions on the market. It cites Dmitry Peskov, who highlights the two-edged nature of the sanctions, aiming to reduce Moscow’s export revenues by restricting the trade of aluminum, copper, and nickel. The article mentions the recent surge in prices of aluminum and nickel following the sanctions, indicating market instability.

The sources mentioned in the article, primarily Dmitry Peskov, who is the Press Secretary for the President of Russia, might introduce a bias in the presentation of the information. As a representative of the Russian government, Peskov’s statements may serve a particular agenda. Furthermore, the article lacks a diverse range of perspectives or expert opinions to provide a balanced analysis of the situation.

Considering the political landscape and the prevalence of fake news, readers should be cautious when interpreting the information presented in the article. The current geopolitical tensions between Russia and Western countries can influence the framing of news stories related to sanctions and their impact. Therefore, readers should seek additional sources and expert analysis to gain a more comprehensive understanding of the situation.

Source: RT news: US ban on Russian metals ‘cuts both ways’ – Kremlin