Economics
Commodity Traders Stop Buying From Rusal After Sanctions
- Aluminum price surges most in two years on U.S. restrictions
- Rusal is world’s top producer of metal outside China
Russian Stocks Take Worst Hit Since 2014 on U.S. Sanctions
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International trading houses have stopped buying aluminum from United Co. Rusal as U.S. sanctions on the Russian company sent shock waves through the market for the metal used in everything from airplanes to beer cans.
Trading houses have been advised by their banks and lawyers that they can’t continue trading with the Russian company, according to executives at five companies that regularly buy from Rusal, who spoke under condition of anonymity due to the sensitivity of the discussions.