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CME suspends approved status of six Russian precious metal refiners

March 7 (Reuters) - CME Group Inc said on Monday it suspended its approved status for warranting and delivery of six Russian gold and silver refiners until further notice.

The move follows closely after the London Bullion Market Association (LBMA) suspended its accreditation of six Russian precious metals refiners, meaning they will no longer be able to sell gold and silver in the London market, the world’s largest.

The six refiners suspended are JSC Krastsvetmet, JSC Novosibirsk Refinery, JSC Uralelectromed, Moscow Special Alloys Processing Plant, Prioksky Plant of Non-Ferrous Metals and Shyolkovsky Factory of Secondary Precious Metals.

However, gold and silver produced by the refiners prior to March 7 would continue to be eligible for warranting and delivery, CME said.

Reporting by Ashitha Shivaprasad and Kavya Guduru in Bengaluru; Editing by Chris Reese

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