Bloomberg: trading house has suspended the purchase of aluminium “RUSAL” against the backdrop of sanctions


TASS, 9 APR. International trading house refuse transactions for the purchase of aluminium “RUSAL” because of the sanctions imposed by the US against the company and its co-owner Oleg Deripaska on 6 April. About it Bloomberg said representatives from five trade companies on condition of anonymity.

According to interlocutors of the Agency, recommendations that they can continue to work more with the Russian company, they received from banks and lawyers.

Earlier the Agency informed that “RUSAL” has sent its customers a letter asking them to suspend payments on contracts.

The US Treasury imposed sanctions against Deripaska and his eight companies (En+, RUSAL, and “GAZ Group” Agroholding “Kuban”, “the EuroSibEnergo”, “Russian car”, the investment company B-Finance, the holding “Basic element”) on Friday. Clarification indicated that U.S. investors have until may 7 to get rid of stock and other securities of En+, RUSAL and GAZ. Until June 5, the Americans should cancel all contracts concluded with these and other companies from the list.

As analysts write Raiffeisenbank, the new sanctions will likely lead to the cessation of payments in U.S. dollars “RUSAL”, which means the default on Eurobonds and other operations (the company made a statement on possible technical defaults on some lending operations), as well as disruptions of the sales of aluminium traders, as the global American traders will refuse to buy the metal at the company.

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