Russia

Glencore and Rusal Ask LME to Lift Suspension on Trading of Rusal’s Aluminium

Glencore and Rusal Ask LME to Lift Suspension on Trading of Rusal’s Aluminium

Citing the Trump administration’s extension for complying with the sanctions it placed upon U.C. Rusal, Anglo-Swiss mining and trading firm Glencore plc has joined with the Russian miner in petitioning the London Metal Exchange to temporarily lift the suspension on Rusal’s aluminium....

Events

Trade Minister Manturov Sees Nationalization in Cards for Rusal

The sanctions the United States government levied upon Oleg Deripaska and U.C. Rusal earlier this month have dominated the aluminium headlines, and rightly so. Though Washington, D.C. has since relaxed the sanctions, the slight reprieve is not a long-term answer to the issue, especially in the eyes of U.S. Treasury Department Secretary Steven Mnuchin. Market […]

Sanctions on Rusal May Pose Serious Problems for American Plants in Russia

Fallout continues from the United States government’s sanctions upon U.C. Rusal, as American firms Ball Corporation and Arconic Inc. may be forced to sell their Russian assets should a workaround not be found. The two American companies, who control one quarter of Russia’s aluminium usage, operate four plants between them in the country, and the […]

UC Rusal Sanctions: Dangerous Games on Aluminium Markets

In early April, right as LME aluminium prices slipped below US$ 2000/tonne and heralded further falls, the U.S. Treasury Department announced fresh sanctions against Russia. The U.S. imposed sanctions against 24 Russian businessmen, striking at allies of President Vladimir Putin in a quite unexpected and aggressive move to punish Moscow for its alleged meddling in […]

Norsk Hydro Weighing Force Majeure Declaration on Rusal Contracts

With the ink scarcely dry on a similar announcement by Rio Tinto Group, Norsk Hydro A.S.A. revealed on Friday that it may be forced to declare force majeure on certain contracts it has with U.C. Rusal. Hydro told investors that the sanctions levied upon Rusal by the United States government may prevent it from fulfilling […]