Swiss commodity trader Glencore, the biggest buyer of aluminum of Russian UC RUSAL, plans to resume purchases after the U.S. softens its anti-Russian sanctions, news agency Bloomberg reported citing sources familiar with the situation.
Glencore has decided that it may continue buying RUSAL’s aluminum until October, according to the sources.
Glencore declined to comment. RUSAL failed to answer promptly.
On April 23 the Office of Foreign Assets Control (OFAC) said that the U.S. could lift sanctions against RUSAL if businessman Oleg Deripaska ceded the control.
On April 6 the U.S. imposed sanctions against 38 Russian tycoons, officials and companies including Deripaska. (Prime/Ukrainian metal)