CME and LBMA Suspend Six Russian Bullion Refineries

In light of UK/EU/US sanctions and to ensure an orderly market, the London Bullion Market Association (LBMA) and CME Group have suspended the following gold and silver refiners with immediate effect:

• ​JSC Krastsvetmet (gold and silver) 

• ​JSC Novosibirsk Refinery (gold and silver) 

• ​JSC Uralelectromed (gold and silver) 

• ​Moscow Special Alloys Processing Plant (gold)  

• ​Prioksky Plant of Non-Ferrous Metals (gold and silver) 

• ​Shyolkovsky Factory of Secondary Precious Metals, SOE (gold and silver)

The LBMA said that these six refiners will no longer be accepted as Good Delivery by the London Bullion market until further notice.

In addition, Russia will be excluded from all of JPMorgan's fixed income indexes on March 31, the bank said in a statement on Monday, joining rival index providers that had excluded Russian securities from their indexes after Moscow's invasion of Ukraine.