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Nickel prices during today’s trading on the London Metal Exchange (LME) for the first time in history soared above $100 thousand per ton.
So, by 9:09 Moscow time, the cost of this metal jumped by 110.8% to $101.35 thousand per ton, TASS reports.
At the same time, Bloomberg called the $100,000 nickel price “unprecedented,” RIA Novosti notes.
“The hype with the price of nickel is caused by fears of a shortage of the metal in the event that there are interruptions in shipments from Russia, which is a major global supplier,” Alexei Kalachev, an analyst at Finam Investment Company, said in an interview with TASS.
Meanwhile, the price of gas in Europe at the opening of trading on Tuesday increased by more than 30% by the close of previous trading and exceeded $3,000 per thousand cubic meters. However, yesterday at the peak it even approached $4,000.
Recall that on February 21, 2022, Russian President Vladimir Putin signed decrees recognizing the independence of the self-proclaimed Donetsk and Luhansk People’s Republics (DPR and LPR), and on February 24 he made an emergency appeal to the Russians and announced a special military operation in Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”
In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
In particular, Russian banks fell under the sanctions, including Sberbank, VTB, Novikombank, FC Otkritie and Sovcombank, and for a number of state-owned companies it was difficult to attract foreign capital.
Later, the EU countries and the United States agreed to disconnect Russian banks that fell under sanctions from the international system of interbank transactions and information exchange SWIFT. In addition, it was decided to freeze the assets of the Bank of Russia, which will create difficulties for its use of international reserves. EU countries also pledged to take steps to limit the sale of citizenship — the so-called “golden passports” that allow wealthy Russians connected to the Russian government to become citizens of EU states and gain access to their financial systems. In addition, the European Union, the United States, Canada and a number of other countries have closed the sky for Russian aircraft.
You can follow the chronicle of events around Ukraine here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
