Office of Foreign Assets Control

United States Government Extends Rusal Sanctions Deadline To December 12

United States Government Extends Rusal Sanctions Deadline To December 12

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has granted another month’s reprieve to Russian Federation aluminium titan U.C. Rusal with its announcement on Friday that the expiration date of the company’s general licenses has been pushed back...

Events

Citing U.S. Sanctions, Rusal To Close Nadvoitsky Smelter

Embattled Russian Federation aluminium giant U.C. Rusal says sanctions placed upon it by the Trump administration has forced it to end production at a smelter in northwest Russia. Rusal has started ramping down production at its Nadvoitsky plant in Karelia, citing the twin body blows of Section 232 aluminium tariffs and the sanctions levied upon […]

Rusal Kubal Aluminium Smelter’s Access to Sweden Power Market Restored

Rusal’s sole primary metal production facility outside Russia has been allowed back on to its country’s electrical energy market after being suspended last month due to the United States government’s sanctions against the aluminium firm. A one-sentence announcement upon Nord Pool AS’s website on Tuesday notified traders that Kubikenborg Aluminium AB (Kubal) reacquired its trading […]

Deripaska Agrees to Leave Leadership of Sanction-Hobbled Rusal

In an effort at mollifying the powers that be in Washington, D.C., Oleg Deripaska has agreed to a significantly reduced role in the embattled Russian aluminium giant U.C. Rusal. According to a release published late last week by Rusal’s parent En+ Group, Deripaska will sell off sufficient shares to winnow down his ownership percentage from […]