LME announces update on warranting of Russian aluminium in EU warehouses

Feb 20 (Reuters) - The London Metal ​Exchange (LME) ⁠said it will suspend warranting ​of Russian aluminium in European Union (EU) warehouses from February 25, unless ​the ‌metal owner or members provides attestation demonstrating compliance with EU sanctions. The ⁠announcement comes in light of ⁠the expiry of a ​one-year transition period after sanctions introduced in February 2025, during which no Russian-origin aluminium has been warranted in EU locations.

Russia ​is ‌a major producer of aluminium.

The LME said that between February 26, 2026 and December 31, 2026 - only metal tied to pre-25 February 2025 contracts ​and within a 50,000-metric tonnes quota can be placed on ‌warrant, with formal attestation. Between February 25, 2025 and February 26, 2026, the prohibitions ‌within the sanctions did not apply to Russian aluminium if the amount being imported into the EU was 275,000 ​metric tonnes or less.

The exchange added that from December 31, ‌2026, Russian aluminium can only be warranted if importers show the material entered the EU before that date in ⁠full ⁠compliance with sanctions.

In the event that the ‌metal was imported prior to December 31, 2026 but not placed ​on warrant, ​the LME will assess requests for the ‌warranting of this metal in EU LME-listed warehouses from December 31, 2026 on a case-by-case basis, it added.