Economics
U.S. `Takes Grenade Off the Table' With Tweak to Rusal Sanctions
- Move gives buyers upper hand, keeping pressure on Deripaska
- Aluminum industry still bracing ahead of Oct. 23 deadline
This article is for subscribers only.
The U.S. has laid the groundwork to avoid a brewing crisis in the global aluminum market.
By making a technical tweak to sanctions on United Co. Rusal on Friday, the U.S. Treasury handed a potential lifeline to buyers of aluminum whose annual contracts with the Russian company are soon due to expire. That makes it less likely there will be a repeat of the chaos that gripped the aluminum market in April when the curbs were first imposed.