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Russia's Rusal lands first US investment since sanctions lifted

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Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S.

Rusal, the world's largest aluminum producer outside China, announced the deal in one of the main markets for the sector less then three months after it was removed from a blacklist. It had already resumed supplies to the U.S. market.The U.S. imposed sanctions on Rusal and its co-owner Oleg Deripaska in April 2018.

"The output from the mill will aid toward rebalancing the anticipated deficit of the auto body sheet in the U.S. market," Rusal said in a statement. The binding documentation for the mill in Ashland, Kentucky, which will be 40 percent owned by Rusal and 60 percent by Braidy is expected to be signed by July, Rusal said.

 

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