Rusal, a leading global aluminum producer, has announced that the recent extension of sanctions by the US and the UK in the metals trading sector will not impact its operations. The company affirmed that its supply chain, access to the banking system, and product quality remain intact despite the new restrictions.
On April 12, the US and UK governments announced sanctions aimed at preventing the London Metal Exchange (LME) and the Chicago Mercantile Exchange from replenishing their aluminum, copper, and nickel stocks with new supplies from Russia. However, these measures specifically do not apply to existing stocks of Russian metals already in the warehouses, which can still be traded. The UK had already implemented a complete ban on the import of Russian-origin copper, aluminum, and nickel in December 2023, with the US following suit with restrictions effective for metals mined after April 13, 2024.
Despite these challenges, Rusal reported a robust performance with a 6.6% increase in sales of aluminum and alloys in 2023, totaling 4.153 million tonnes. The company's resilience is supported by its comprehensive global logistics solutions and a commitment to market-based pricing, ensuring continued strong demand for its products worldwide.
Rusal, the largest aluminum producer outside China and the sole primary producer in Russia, continues to navigate the complexities of international trade with strategic adaptations. The company is majority-owned by En+ Group, with a significant stake held by Oleg Deripaska, while Sual Partners and a free float of shares constitute the remainder of the ownership.
