Treasury Department Delays Sanctions On Russian Aluminum Producer
Last Monday, the U.S. Treasury Department announced its decision to delay sanctions on aluminum imports from Russian company Rusal until October 23, 2018. According to The Wall Street Journal, “The Treasury also signaled Rusal and its related firms might be able to escape U.S. sanctions if their owner, Russian tycoon Oleg Deripaska, divested himself of the businesses and relinquished control.”
The Journal noted Rusal and its affiliates alone is responsible for approximately six percent of global aluminum production and that the company operates smelters and refineries all over the world. The sanctions originally were to take effect on June 5, 2018.