The board of directors of aluminum giant UC RUSAL has decided to remove the company from registration in Jersey and reregister it as an international company in Russia, according to the company’s statement released on the Hong Kong Stock Exchange on November 5. Hit by the U.S. sanctions, RUSAL said in August it started a…
In January-September Rusal received $1.549 billion of net profit, up by 98.1% YoY. The corrected net profit grew by 20.1%, to $873 million. Revenue reached $7.915 billion, up by 9.6%. In Q3 net profit increased by 46.3% QoQ, to $597 million, with corrected up by 55%, to $448 million. Revenue reached $2.918 billion, up by…
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for investors to wind down business with Russia’s En+ Group and aluminum giant UC RUSAL until December 12. The deadline for termination of contracts with GAZ Group remained on October 23. RUSAL shares and Global Depositary Receipts of En+…
Russian aluminum giant UC RUSAL has nothing to do with the government’s initiative to expand the sales of beer in aluminum cans and called the suggestion absurd, the company said in a statement on October 1. Earlier Kommersant business daily reported that the Industry and Trade Ministry had prepared a bill to lift the 2013…
The Industry and Trade Ministry suggests lifting a ban on the sales of canned beer through stands and kiosks and cancel a prohibition on the sales of beer at night to help the sanction-hit business of tycoon Oleg Deripaska, according to a bill written by the ministry. An explanatory note to the bill says that…
Rusal is gathering a team of traders in China. According to sources, Rusal is creating a trade company consisting of a head of sales and traders, specializing in aluminum and alumina. The company will trade aluminum produced on local Chinese market. Rusal also hopes the company will analyze the ways to import metal to China…
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for investors to wind down business with Russia’s En+ Group and aluminum giant UC RUSAL until November 12 and from GAZ Group until October 23, the authority said. “En+ and RUSAL have approached the U.S. government about substantial corporate…
The U.S. Treasury’s decision that Russian aluminum giant UC RUSAL can enter new transactions with existing customers in 2019 is likely to stabilize aluminum prices as it removes some uncertainty over the company’s metal deliveries, international rating agency Fitch said in a statement. “The sanctions against RUSAL are among the main short-term drivers for global…