Commodities
Aluminum, Nickel Climb as Biden Plans Fresh Sanctions on Russia
- Details of ‘major’ new package to be unveiled by US on Friday
- Biden wasn’t specific about which industries would be affected
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Aluminum and nickel advanced on speculation that a fresh wave of US sanctions against Russia may target metals and disrupt supplies.
US President Joe Biden said the US plans to unveil a “major” sanctions package against Moscow on Friday, although he wasn’t specific about which industries would be affected. Traders have been on the lookout for new restrictions on Russian metals, which had escaped broad sanctions until the UK announced its own curbs in December.