Steel company Evraz Plc and gold miner Polymetal International will be removed from the blue-chip index as of March 21.

International sanctions limit the ability of Russian domestic banks to purchase Kinross’s produced gold.

Bullion remains “largely supported amid haven flows due to the Ukraine situation,” analyst said.

While Russia and Ukraine are not major suppliers of iron ore to China, the two countries now at war usually export to other European countries.

Ukraine war may leave lasting mark on world economy.

Kinross will continue to monitor Russia sanctions closely as Russia-Ukraine tensions mount.

BofA sees long-term copper supply challenged amid a lack of development.

West Texas Intermediate traded near $94 a barrel and Brent climbed near $96 as the Kremlin announced Russian President Vladimir Putin plans to officially recognize separatists in eastern Ukraine.