The London Metal Exchange (LME) announced on August 16 that it will immediately suspend access to its warehouses in the UK for Russian nickel, unless the warehouse can establish that the exportation date from Russia was prior to July 20, 2022.
The decision came after the introduction of a 35 percent additional duty by the UK government on imports of Russian and Belarusian nickel.
The LME noted that there is currently no nickel stored in its warehouses.