Russia

U.S. Sanctions Not Meant to Slay Rusal: Treasury Secretary Mnuchin

U.S. Sanctions Not Meant to Slay Rusal: Treasury Secretary Mnuchin

Though the United States government says it isn’t trying to snuff the life from Russian aluminium giant U.C. Rusal, Treasury Secretary Steven Mnuchin says that Oleg Deripaska must relinquish his majority position in the firm before he’ll entertain the possibility of a...

Events

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 […]

Jamaica Next to Feel Repercussions of U.S. Sanctions on Rusal

Ripples from the United States government’s sanctions on Rusal continue to radiate out from Moscow, reaching businesses across Europe and in North America, among other locales. Though the issue has yet to reach global headlines, Jamaica’s West Indies Alumina Company (Windalco) may well be the next domino to fall in the Rusal sanctions saga. Employing […]

Sanctions Against Rusal Lead to Cessation of Bauxite Shipments from Guyana

The unintended consequences of United States sanctions upon Russian business interests continue, as German shipping group Oldendorff Carriers GmbH & Co. KG. cites U.S. Treasury Department sanctions levied against U.C. Rusal as the reason it has been forced to suspend its business with Guyana. In a statement sent to Reuters, Oldendorff said it plans to […]