What is the key restriction imposed by the LME on Russian-origin copper and cobalt in EU warehouses?

The London Metal Exchange (LME) stated that Russian-origin copper and cobalt can only be registered in its listed warehouses in the European Union if evidence is provided that they were imported into the EU before July 25, 2026. This measure implements the EU Council’s amended sanctions prohibiting the purchase, import, or transfer—directly or indirectly—of Russian-origin copper and cobalt into the EU.

How does the LME assess the market impact of this new warranting restriction?

The LME noted that no cobalt or copper of Russian origin has been warranted at an LME-listed warehouse in the EU for more than a year, and it does not expect the process introduced in the notice to have significant market impact.

LME issues notice on warranting of Russian-origin copper, cobalt in EU

Jun 17, 2026

The London Metal Exchange restricted warranting of Russian-origin copper and cobalt in EU warehouses to pre-July 2026 imports to comply with EU sanctions, though it expects minimal market impact given current inventory levels.

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