The US Department of the Treasury decided to cancel the financial restrictions on United Company RUSAL (RUSAL), En+ Group and EuroSibEnergo (ESE) as the three companies have agreed to reduce Oleg Deripaska's shareholding.
Due to the impact from the news, the London Metal Exchange (LME) aluminum futures price dropped to a 16-month low on November 20th, but the closing price finally fell by 0.9% only.
LME said that if the US’ sanctions were cancelled, the ban on RUSAL’s aluminum products will also be lifted.
LME aluminum price impacted by US’ cancellation of sanction on RUSAL
21 Dec 2018 13:46 reported by Joy Liu
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