The press service of Rusal commented on the ongoing developments surrounding the in absentia indictment of Russian businessman Oleg Deripaska and the detention of two Ukrainian senior executives. It described the Glukhovsky quartzite quarry and the Nikolaevsky alumina refinery as being shaped by a volatile geopolitical environment. The company expressed regret over actions taken by Ukrainian authorities and characterized the seizure as unlawful.
The official statement noted that after reaching an agreement with OFAC, Rusal and its parent group EN+ undertook necessary restructuring of its corporate entities and governance framework. It stated that Deripaska relinquished control, a board of independent participants was formed to oversee management, and that sanction relief contributed to stabilizing the aluminum sector and rebalancing global prices, according to the company’s account. — Source: Rusal press service
Rusal also emphasized that it is navigating unfavorable market conditions and sustained pressure from unfriendly states. The release highlighted the loss of control over the NGZ and the disruption to alumina supply from Australia and Ireland, underscoring a challenging phase for the company’s raw materials base. Nevertheless, the firm asserted it remains committed to meeting its obligations to customers and partners while expanding its footprint in new markets, including Southeast Asia, India, and Latin America. — Source: Rusal press service
Additionally, the statement pointed to rising logistics expenses and the imposition of import duties in key markets such as China and India. The debt financing environment was described as exceptionally expensive, compounding the overall difficulties faced by the business. — Source: Rusal press service
Earlier disclosures noted that Ukraine’s Security Service had brought in absentia charges against Oleg Deripaska and had detained Ukrainian executives linked to suppliers of raw materials for Russian defense-related programs. The context of these actions was framed as part of broader geopolitical tensions affecting cross-border trade and industrial supply chains, as reported by involved authorities. — Source: Rusal press service
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