The decision will come as little surprise to the market, given the contracts haven’t traded since 2020.

The disruptions around Russian diamonds are being felt through the global industry, which was already facing a shortage of rough stones even before the war in Ukraine.

Batteries, and more precisely battery metals, are poised to replace chips as the new bottleneck for the auto industry, writes Gabrielle Coppola.

The miner, which makes iron ore pellets used in the steel industry, has all its operations in Ukraine but away from the main conflict zones.

Five miners were killed in the initial explosion at the Pniowek coal mine in Pawlowice.

Glencore last year said it planned to run down its thermal coal mines by the mid-2040s and hit net-zero carbon emissions by 2050.

Silver and wood products from Russia will also be prohibited and tariffs will be increased by 35% on 130 million pounds ($170 million) worth of diamonds and other products,

Gold is seeing a correction since the market is expecting the Fed to be more aggressive in hiking rates, an analyst said.