MOSCOW, April 15. /TASS/. The price of shares of Nornickel and Rusal are down by 2-2.74% on Moscow Exchange, according to trading data. The decline follows the ban on the import of aluminum, copper and nickel of Russian origin imposed by the UK and the US.

As of 10:08 a.m. (07:08 a.m. GMT) the price of Nornickel shares was down by 1.89% at 161.68 rubles per share, while the price of Rusal shares was down by 2.18% at 41.575 rubles.

As of 10:34 a.m. (07:34 a.m. GMT) Nornickel shares were down by 2% at 161.5 rubles, while Rusal shares were down by 2.74% at 41.33 rubles.

On April 12, the UK and the US expanded sanctions against Russia in trade of metals, which suggest that the London Metal Exchange (LME) and the Chicago Mercantile Exchange will no longer be allowed to replenish the stocks of aluminum, copper and nickel in their warehouses through the supply of Russian raw materials. London and Washington said in a joint statement that the restrictions did not cover the existing reserves of Russian metals in the warehouses of both exchanges, with which it will still be possible to carry out trading operations, However, the London Metal Exchange and the Chicago Mercantile Exchange will no longer buy new aluminum, copper and nickel produced by Russia.

In December 2023, the UK completely banned the import of copper, aluminum and nickel of Russian origin. In the US, a similar ban is starting to take effect now, but it does not apply to metals produced before April 13, 2024.