Russia

Rusal Bauxite Production Jumped 18.9 Percent In 2018

Rusal Bauxite Production Jumped 18.9 Percent In 2018

Despite being hampered by sanctions most of both periods, Russian aluminium giant U.C. Rusal showed production results ranging from level pegging to significant increases in both the fourth quarter and the full year of 2018. In last year’s final quarter, Rusal produced...

Events

U.S. Government Grants En+, Rusal Another Two Weeks Before Third-Party Sanctions Kick In

Acknowledging the progress En+ Group, U.C. Rusal, and GAZ Group has made in complying with United States government requirements for distancing itself from founder Oleg Deripaska, on Friday the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) granted another extension to the firms’ grace period without stricter sanctions. A press release posted […]

Source: Kremlin Prepares RUB10 Billion Purchase Of Aluminium From Rusal

In a bid to lend support to the sanctioned Russian Federation aluminium giant U.C. Rusal, the Russian government has plans in place to purchase up to 50 thousand metric tons of aluminium from the struggling firm. Per an unidentified source who spoke with Reuters, the Kremlin issued a decree on Monday setting aside RUB10 billion […]

U.S. Government Extends Rusal Sanction Reprieve To Early January

The Trump administration announced on Friday another month-long extension of a reprieve from sanctions for En+ Group, Rusal, and GAZ, noting the progress founder Oleg Deripaska is making toward divesting his interests in the firms. Per a press release from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the trio of […]

Despite U.S. Sanctions, Rusal Records 55% Rise In Profits In Third Quarter

Russian Federation aluminium behemoth U.C. Rusal released results for the third quarter yesterday. Though still laboring under sanctions imposed on it by the Trump administration, Rusal posted a 55-percent jump in net profits in the just-ended quarter. In the third quarter Rusal smelted 940 thousand metric tons of primary aluminium, up by 1 percent on […]

Yielding To U.S. Pressure, Oleg Deripaska Steps Down From En+ Group

Following through on promises made this summer to United States government regulators, U.C. Rusal’s parent company En+ Group announced on Friday that founder Oleg Deripaska has passed the company’s reins to a successor. In a brief press release issued on Friday, the company said that the move was made as part of a larger initiative, […]