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Amc trades halted, derivative trading halted due to US sanctions

Trading of commodities and derivatives suspended due to U.S. sanctions imposed on Russia and the North Korean regime.

The ban, which will be in place until March 16, bans all transactions in the Russian ruble, the Chinese yuan, the Russian currency and the Brent oil price, Bloomberg reported.

The sanctions were imposed on December 23 and were meant to force Moscow to stop its annexation of Crimea, which was backed by U.N. Security Council Resolution 2231.

Russia has repeatedly denied the sanctions are related to the conflict in eastern Ukraine.

The Kremlin also says the measures are designed to punish the West for interfering in its affairs.

The U.K. and Canada announced on Monday that they would suspend the export of oil to Russia and ban oil imports from the North Korea-backed regime.

Canada is also banning Canadian exports to Russia.

The Brent crude oil price has declined nearly 60 percent from its November highs.