The Russian government has allocated up to 10 billion rubles for the Federal Agency for State Reserves to buy up to 50,000 tons of aluminum for the state reserve, according to a ruling published on November 28 on the government’s website for disclosure of legal information.
The U.S. imposed 25% import duties on steel and 10% on aluminum, including imports from Russia. In April Washington sanctioned several Russian companies and individuals, including tycoon Oleg Deripaska and his aluminum giant UC RUSAL.
Deripaska suggested selling aluminum for Russia’s state reserve in May as a way to help the company, but Industry and Trade Minister Denis Manturov said then that there was no immediate need to support the company this way. (Prime/Ukrainian metal)