Russian aluminum producer RUSAL is reregistering the business in a special administrative zone in Kaliningrad, Yelena Bezdenezhnykh, vice-president for regional policies and government relations, said at the St. Petersburg International Legal Forum.
“RUSAL is relocating to Kaliningrad, as you know, there is reregistration,” Bezdenezhnykh said. “In this case this is one of the good examples in the Russian Federation, why we and the rest of the business relocated the business to the Russian Federation. It was a blessing in disguise.”
On April 6, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including Oleg Deripaska and his companies – En+ Group, carmaker GAZ Group, holding Basic Element, and aluminum giant RUSAL – among others. In December, the shareholders of energy and metals holding En+ Group unilaterally voted for reregistration of the business in Russia and for Deripaska’s ownership reduction below 50% and an end to his influence on the board of directors. (Prime/Ukrainian metal)