Russia Aluminum Sanctions Setback Again

- Jan 15, 2019-

In terms of industry, Huosuo Group Tongshun Aluminum Co., Ltd. is expected to implement 2019 due to losses, internal replacement demand, or reduced production but not explicitly reduced production by 115,000 tons. On January 8, US time, Congress proposed to the Ministry of Finance to postpone the announcement of the decision on Russia's aluminum sanctions, saying that "some unresolved issues will take time to discuss" and proposed to discuss with the Minister of Finance, Nuchin, the impact of lifting the sanctions. Partial closures by the US government have made it impossible to make a ruling in accordance with the 30-day period set out in the Anti-Sanctions Act. The specific ruling time has not yet been determined. Last week, Senate Minority Leader Schumer said that it was allowed to veto the possibility of the Ministry of Finance canceling the Russian-Russian sanctions resolution. US Finance Minister Nuchin proposed to revoke the sanctions of Rusal (00486-HK), its parent company En+ Group, and another subsidiary, Russia Energy, because these companies are no longer controlled by Russian aluminum tycoon Ou Baijia. Restructuring and internal reforms have been carried out, and Ou Baijia is no longer a controlling shareholder. However, the sanctions against Ou Baijia will continue.