Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
AL CIRCLE

Aughinish alumina refinery secure temporary reprieve from US government

EDITED BY : 2MINS READ

The owners of the Aughinish Alumina refinery in West Limerick have reportedly secured a temporary reprieve over threat to alumina jobs from the Trump administration.

The news arrived after the US Treasury’s Office of Foreign Assets Control (OFAC) granted a three-week extension until November 12 on last Friday, for investors to divest holdings of debt, equity, and other assets in Rusal and its sister company EN+.

{alcircleadd}

The Irish Government was engaged in a high-stakes battle to save up to 1,700 jobs in the Mid-West. Germany and France also lobbied Washington to back down as Aughinish is a key strategic asset for Europe.

Some 750 people are directly employed at Aughinish while an additional 1,000 people are indirectly employed in roles such as subcontracting.

Ireland had sought a minimum 12-month extension to help save jobs amid concerns the sanctions could see production at Aughinish slashed by up to 70pc or face closure.

Pat Breen, Minister of State across the Departments of Enterprise and Innovation - and a TD for Clare - said all sides are anxious to get the deal across the line.

Minister Breen in the same context commented: "There are additional hurdles to overcome, but we are encouraged by the three-week extension which suggests that a deal may be close." I am confident that we will see a deal where Rusal is de-listed from the sanctions list." Minister Breen had travelled to Washington DC in July to raise concerns about the potential jobs to blow with the US administration.

US Treasury Secretary Steven Mnuchin reported the United States was in talks with Rusal to remove it from the sanctions list. The Treasury said in a statement "EN+ and Rusal approached the US government about substantial corporate governance changes that could potentially result in significant changes in control."

He further added that to allow sufficient time for review, the US government decided to extend the licences until November 12.

Initially, Aughinish, under the punitive sanctions regime, had time until October 23 to wind down dealings with American businesses.


Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle News App
AL Biz App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.