Jersey-registered Russian aluminum giant UC RUSAL, hit by the U.S. sanctions, is considering changing its jurisdiction and becoming a resident of one of the country’s special administrative regions, the company said on August 17.
“The board of directors decided that such a change of registration would on the whole serve the best interests of the company and its shareholders and approved a start of its preparatory process,” RUSAL said.
A government source said in June that RUSAL could become a resident of one of the special administrative regions that would be created the Russky Island near Vladivostok and in the Oktyabrsky Island near Kaliningrad. (Prime/Ukrainian metal)