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AL CIRCLE

Rusal asks Russian government to purchase its aluminium

EDITED BY : 1MINS READ

Russian tycoon Oleg Deripaska has asked the Russian government to start buying aluminium produced by Rusal, said a government source on Thursday, who spoke on condition of anonymity, according to Reuters report.

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Russia's aluminum producer Rusal also announced that its chief executive and seven board members had resigned in an effort to seek relief from the sanctions. The company said the resignations were part of the efforts that had been made by the management of the Group to protect the interests of the company and its shareholders since the OFAC sanctions were imposed in April.  On April 6, the United States announced sanctions on Deripaska and Rusal.

Deripaska has also asked for state support for car maker GAZ, which has been affected by the sanctions, the source said.  

The US Treasury last month said that it would consider lifting the sanctions if Rusal’s major shareholder Oleg Deripaska ceded control of the company.


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EDITED BY : 1MINS READ

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