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Date: 3 months ago   Category: Companies

Explanations of the USA have thrown stocks of RUSAL


At the Moscow Exchange they have flown up for 9%, or up to 25,47 rubles for security. The Ministry of Finance of the USA has allowed to conclude bargains with Oleg Deripaska's enterprises if contractors already signed contracts before the Photo: Donat of Sorokin/TASS On Monday, September 17, at opening of the trading of the Moscow Exchange of a stock of RUSAL have flown up for 9% (up to 25,47 rubles for security). As of 10:10 Moscow time growth about 4,5% were slowed down (24,42 rubles for paper). Earlier the U.S. Department of the Treasury has published the statement in which restrictions on Oleg Deripaska's companies are explained. In particular, it is specified that the American citizens and their partners can sign new contracts with RUSAL and En Group. Permission works only for those companies which bought their goods and services earlier, till April 6, 2018 when it has been declared imposing of sanctions. It also became the reason of rise of quotations, the financial analyst "Opening the Broker" Timur Nigmatullin:timur Nigmatullin the financial analyst "Opening the Broker" "In a case with RUSAL says the company, most likely, won't lose that share of the market of the USA which shareholders put waiting. Work of RUSAL, proceeding from the announced bylaws of the Ministry of Finance, continues in the so-called mode of maintenance. Actually, the company will be able to realize the activity within earlier signed contracts and will be able to renew them. There are a lot of nuances. Perhaps, from the point of view of business of the company the help of legal consultants is required. Anyway it is very difficult and delicate question, but the general understanding such is that sanctions against RUSAL as a result were softer, than it was expected earlier. Nevertheless it should be noted the fact that even taking into account this mitigation RUSAL still is under very tight sanctions restrictions. I think that a number of the closed plants which including worked at the USA won't be open in the near future. RUSAL should look for new sales markets. Perhaps, in Russia, maybe, abroad, but in the USA the company won't occupy any more that share of the market which I occupied earlier". The Bloomberg agency with reference to the sources familiar with a situation, has reported on September 10 that RUSAL can begin reduction in production in September because of impossibility to conduct annual negotiations on contracts. In August aluminum production was already stopped by the Nadvoitsky aluminum plant in Karelia which was turning out products only for the USA. Sources of TASS reported that if sanctions aren't removed in the nearest future, RUSAL since October can preserve capacities of several more plants as contracts for delivery of aluminum will end, and all production of the company intended for foreign consumers will go to warehouses. Also it was noted that in the circumstances production of alloys and production with value added for foreign consumers can be stopped since September. To add BFM.ru to your sources of news?

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