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,…