Russia: Rusal profit collapses in 2023

In 2023, net profit of the aluminum monopoly Rusal collapsed 6-fold YoY due to the drop in prices despite the growth in sales after the company reoriented to Asia. Rusal was hit by direct Western sanctions in 2022 following the Russian invasion of Ukraine. Last year, Rusal sales increased by 6.6%, to 4.15 million tons,…

Ukraine: arrested Rusal alumina to be sold

Shevchenkovskiy District Court of Kyiv has transferred to the National Assets Recovery and Management Agency 90 arrested carriages with 6.23 thousand tons of alumina. Alumina belongs to Rusal Bratsk (Russia) and RS International GmbH (Switzerland), all part of Rusal. The value of the alumina is over 80 million UAH. The arrested goods will be sold.…

Ukraine: Rusal quarry arrested

A court has arrested Glukhovskiy Quartzite Quarry LLC belonging to Rusal. According to the General Prosecutor’s Office, the quarry illegally extracted high-quality quartzite, silicon and ferrosilicon at the Banitskoye deposit in Sumy region. After that the raw materials were illegally exported to Russia and sold for the benefit of the military complex, in particular, for…

Russia: RUSAL IFRS net profit down in 2019

The net profit of Russian aluminum giant UC RUSAL fell by 44.5%, to $960 million in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on March 13. The adjusted net loss amounted to $270 million after an adjusted net profit of $856 million a year ago. Revenue fell…