MONTREAL — The head of Rio Tinto’s aluminum division said Tuesday he is closely watching the industry impact of U.S. sanctions on its Russian rival, Rusal, one of the world’s largest aluminum suppliers.
The United States Treasury Department on Friday announced sanctions against seven leading Russian businessmen, 17 officials and a dozen Russian companies, including the aluminum giant. Rusal shares have dropped by more than half since the sanctions were announced, and the company has warned it may technically default.
“It’s a bit early yet to speculate on exactly how this is going to work out and what impact it’s going to …read more
Source: National Newswatch
