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Monday 21.05.2018 | Name days: Ingmārs, Ernestīne, Akvelīna

Russian aluminium giant loses half its value because of US sanctions

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe value of Russian aluminium giant Rusal declined by nearly 50% at Hong Kong exchange on Monday, 9 April due to the sanctions applied to the company by USA. These sanctions put the company at risk of partial insolvency.

The price of Rusal shares declined 49% during the morning trade session – down to HKD 2.38 (EUR 0.25).

This decline has reduced the company’s market value by more than EUR 3.5 billion.

Rusal states that sanctions imposed against the company by USA could lead to a technical default of several of its credit obligations. The company explains that this situation very negatively impacts business activities and future outlooks.

The company may be late with its financial account for last year because of this situation.

Rusal is the world’s leading producer of aluminium. It supplies 7% of the total amount of aluminium produced in the world.

As previously reported, US Department of Treasury announced on Friday plans to impose sanctions against seven so-called Russian oligarchs, 12 of their controlled businesses, as well as 17 high-ranking Russian state government officials.

Among the people applied with sanctions are individuals who, according to USA, had benefited from Russian President Vladimir Putin’s policy. These include Rusal CEO Oleg Deripaska.


Leave a reply

  1. Leo Sharansky says:

    That’s right. Accept democratic values or pay. Sanctions should teach Russia a lesson.

    Thumb up 0 Thumb down 0

    • Linda says:

      Sanctions have had no effect to date. And if Russia didn’t behave so badly, the near abroad would not feel threatened!

      Thumb up 0 Thumb down 0

      • Leo Sharansky says:

        What? Don’t you know that sanctions have left Russia’s economy in tatters?

        Don’t listen to Kremlin’s propaganda, listen to what American Ministry of Truth says.

        Thumb up 0 Thumb down 0

        • Rocketman says:

          Russia, they have flown!

          Thumb up 0 Thumb down 0

        • Linda says:

          neither is trustworthy!

          Thumb up 0 Thumb down 0

          • Leo Sharansky says:

            You doubt the trustworthiness of what free and independent American media say? Maybe you also think that America’s democratic government is something like that bunch of KGB dwarves that spreads lies and propaganda?

            Only Kremlins say that sanctions imposed by the free world on Russia have had no effect!

            Thumb up 0 Thumb down 0

          • Ministry of Truth says:

            Linda, you can be sure of one thing: Leo Sharansky here is a Kremlin troll-bot. Just look at what he says at other threads. He bears a grudge against US. Probably, because instead of taking him to McDonald’s his parents brought him to the Lenin mausoleum.
            He just follows what his Kremlin mentors tell him. He has no thoughts of his own. Just ignore him.

            Thumb up 0 Thumb down 0

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