Rusal 0486

Re: Rusal 0486

Postby winston » Mon May 07, 2018 8:00 am

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Oleg Deripaska, Russian oligarch under siege for Putin ties

In 2001, he married Polina Yumasheva, the daughter of the son-in-law of former president Boris Yeltsin.

Mr Putin has made it clear that, under him, the fate of big businessmen is conditional on absolute loyalty.


Source: Financial Times

https://www.ft.com/content/08f230b0-4df ... 951a2d8493
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Re: Rusal 0486

Postby winston » Fri May 11, 2018 1:41 pm

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<Result Ann>RUSAL 1Q Adjusted Net Profit Nearly US$320M, Up 20.5% YoY

RUSAL (00486.HK) announced the results for the three months ended 31 March 2018.

Adjusted profit for the period rose 20.5% yearly to US$317 million.

Recurring profit for the period hiked 22.4% yearly to US$531 million.

Source: AAStocks Financial News
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Re: Rusal 0486

Postby winston » Sat May 12, 2018 4:54 pm

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Glencore and Rusal ask LME to lift suspension on Rusal's aluminum

by Pratima Desai, Clara Denina, Dasha Afanasieva

LONDON (Reuters) - Glencore and United Company Rusal have asked the London Metal Exchange to temporarily lift its suspension on Rusal’s aluminum, after an extension of the deadline for companies to wind down contracts with the Russian firm under U.S. sanctions, sources said.

The LME suspended Rusal’s aluminum from April 17 after the U.S. Treasury Department imposed sanctions on the Hong Kong-listed company and other Russian firms and oligarchs.

The Treasury has extended its deadline for U.S. consumers to wind down business with Rusal to Oct. 23 from June 5 previously and said it would consider lifting sanctions if Rusal’s major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. [nL1N1S018U]

The extension detailed in General Licence 14 (GL-14), issued late April, effectively means aluminum [b]produced and sold by Rusal until Oct. 23 is free of U.S. sanctions,[/b] so long as the deal to buy was signed before they were imposed on April 6.

This is the case with Swiss-based mining giant Glencore, which has a seven-year deal to buy 14.5 million tonnes of aluminum from Rusal between 2012 to 2018.

“Glencore is a big player in the aluminum market, they want to be able to put Rusal’s metal on LME warrant until October,” one source said.

After the extension was announced the LME sent out a notice saying it would analyze the implications. [nL8N1S2335]

Sources say making sure that Rusal’s aluminum delivered to LME approved warehouses was produced and sold before April 6 is a simple process as the owner just needs to supply a certificate of analysis and confirmation.

But proving that metal is compliant with GL-14 would be a difficult, time-consuming and expensive process involving things such as checking the original contract and making sure the amounts involved are what was agreed.

A direct connection between the contract and the specific metal would also need to be proved and there needs to be a way to confirm the original agreement wasn’t changed after the sanctions were imposed.

Source: Reuters

https://www.reuters.com/article/us-glen ... SKBN1IC1I4
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Re: Rusal 0486

Postby winston » Mon May 14, 2018 11:12 pm

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Moscow may provide some support for Deripaska's Rusal, GAZ

by Denis Pinchuk

MOSCOW (Reuters) - Russia is considering providing support to tycoon Oleg Deripaska’s Rusal (0486.HK) and GAZ GAZ.MM, two companies hit by U.S. sanctions, but will not go as far as buying stakes in his firms, Finance Minister Anton Siluanov said on Monday.

“The issue of credit support to Rusal and GAZ by Promsvyazbank (PSB) is being worked out”.

Rusal’s net debt stood at $7.9 billion at the end of March.


Source: Reuters

https://www.reuters.com/article/us-usa- ... SKCN1IF0XW
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Re: Rusal 0486

Postby winston » Wed May 16, 2018 11:35 am

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INSIGHT-How Rusal escaped the noose of U.S. sanctions

* Sanctions caused market turmoil, hit supply chains
* Ireland, France, Germany lobbied to soften measures
* Rio Tinto, U.S. aluminium body appealed to authorities
* U.S. Treasury eased Rusal restrictions after 17 days

By Dmitry Zhdannikov, Richard Lough and Lesley Wroughton

Rusal told Rio Tinto that it was suspending deliveries of alumina from its Irish plant in Aughinish to Rio’s Dunkirk aluminium smelter in France, Europe’s biggest aluminium production facility.

Rusal also informed Trimet Aluminium it was halting alumina deliveries to the German firm’s smelter in the French Alps and three factories in Germany, in Essen, Hamburg and Voerde.

In addition to aluminium, carmakers were worried about a possible disruption to supplies of palladium, used in catalytic converters. Rusal doesn’t produce palladium but it supplies soda to Norilsk Nickel, the world’s biggest palladium producer.

Last year, the U.S. industry imported 680,000 metric tons of Russian primary aluminium, or 12 percent of U.S. demand.




Source: Reuters

https://www.reuters.com/article/usa-san ... SL8N1SG7TQ
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Re: Rusal 0486

Postby winston » Thu May 17, 2018 11:05 am

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Facilitators of US sanctions face jail in Russia

Go along with US sanctions, and you'll face jail — that's the warning Russian lawmakers have for those who adhere to or facilitate business sanctions.

Foreign companies have much to lose in this catch-22 situation.

The legislation envisages jailing any individual or the representatives of any legal entity in Russia who refuses to supply services or do business with a Russian citizen citing US or other foreign sanctions.

Such a crime would be punishable by up to four years in jail or other limits on an individual's freedom or by a fine of up to 600,000 rubles ($9,730 or €8,133), Russian news agencies reported.

The German Committee on Eastern European Economic Relations estimates that of the some 5,000 German companies active on the Russian market, more than 60 have "extensive business relations" with sanctioned persons.

A sector that could be hit particularly hard is the European aluminium processing industry. Sanctioned Russian aluminium maker Rusal, which the committee says has covered 30 to 40 percent of European demand to date and runs factories in the EU, could suffer "production shutdowns." The ramifications could include "price hikes and follow-up costs worth hundreds of millions of euros," according to Harms.


Source: DW

http://www.dw.com/en/facilitators-of-us ... a-43776941
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Re: Rusal 0486

Postby winston » Sat May 19, 2018 4:37 pm

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Sanctions-hit Oleg Deripaska quits boards of EN+ and Rusal

by Jon Yeomans

EN+’s directors today voted to accept Mr Deripaska’s resignation from the board and to back Lord Barker’s rescue plan.


Source: The Telegraph

https://www.telegraph.co.uk/business/20 ... -en-rusal/
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Re: Rusal 0486

Postby winston » Sat May 19, 2018 4:41 pm

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Deripaska undertakes not to seek reelection to Rusal Board - En+

The Board of Directors also confirmed the undertaking of Deripaska not to put forward his candidacy for reelection to the Board of the aluminum holding Rusal

Philippe Mailfait, who is currently an independent director in the En+ Group will be nominated to replace Deripaska on the Board of Directors of Rusal, En+ said.


Source: TASS

http://tass.com/economy/1005164
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Re: Rusal 0486

Postby winston » Mon May 21, 2018 10:51 am

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RUSAL Controlling Shareholder En+ Ends Deripaska's Control

RUSAL (00486.HK) announced that, pursuant to the announcement made by the controlling shareholder En+, its board of directors endorsed its independent chairman's plan to lift the sanctions imposed by OFAC through severing Oleg Deripaska's control on the company.

Source: AAStocks Financial News
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Re: Rusal 0486

Postby winston » Tue May 22, 2018 8:21 am

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Sanctions-hit Rusal soars 9 per cent in Hong Kong after Russian oligarch Deripaska cedes control

Aluminium prices surged last month amid fears the US sanctions will hit the global supply chain, but prices have since retreated after the US softened its stance on the penalties

Source: SCMP

http://www.scmp.com/business/companies/ ... n-oligarch
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