RUSAL, one of the world's largest aluminium producers, notes that the actions on the Russian metals recently introduced by the US and the UK governments and subsequent Notice issued by LME to its members on April 13, 2024, do not amount to any type of sanctions or delisting of any RUSAL's brands but are rather a suspension of deliveries to the LME warehouses and prohibition on warranting services on a global metal exchange relating to the Russian-origin aluminium produced on or after April 13, 2024.
The above actions appear to be strictly related to the exchange and derivatives. RUSAL will remain capable of providing hedging services to our customers and remains committed to market-based pricing.
The announced actions also have no impact on RUSAL's ability to supply since RUSAL's global logistic delivery solutions, access to the banking system, overall production, and quality systems are not affected.
RUSAL also notes that the US determination does not impose any new prohibitions or requirements relating to the processing, clearing, or sending of payments by any intermediary banks.
The LME, in its Notice issued on April 13, recognises that a substantial proportion of the market is still willing to take delivery of Russian aluminium. RUSAL also sees great demand for Russian metal, including low-carbon aluminium and new alloys, from various end users across the globe.
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