International news within the industry of mining and metal, May, 21 2018
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Rusal tries to escape the US sanctions

Rusals Boguchansky aluminium smelter. Photo: Rusal
Rusals Boguchansky aluminium smelter. Photo: Rusal
Published by
Markku Björkman - 04 May 2018

Rusal, one of the world's largest aluminium manufacturers, tries to escape the US sanctions it has been exposed by refurbishing in its leading board. If the project fails, the company may be forced to completely cease aluminium exports, states initiated sources of L'Usine Nouvelle.

The company's stock value listed on the Hong Kong stock exchange has fallen almost 60 percent since the imposition of sanctions. The sanctions were aimed at the Russian oligarch Oleg Deripaska, one of Russia's largest partner, this as a punishment for alleged "illiterate activities" to destabilize Western democracies.

According to Reuters, Rusal will shortly appoint an independent board, which will, in turn, install a new management in the hope that the United States will remove the company from its sanction list.

- Rusal is in contact with US authorities and hopes that this action will suffice to remove it from the list of sanctioned devices," says one of Reuters's sources.