Rio Moves to Stop Shipments to Russian-Owned Alumina Plant
- Miner is looking to stop bauxite shipments to key Rusal plant
- Move comes as Deripaska sanctioned by U.K., aluminum jumps
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Rio Tinto Group plans to end deals with a United Co. Rusal International PJSC refinery in Ireland that’s a key supplier to Europe’s aluminum industry, pushing the metal to its biggest gain in three years.
Russia’s invasion of Ukraine has upended commodity markets, with prices of everything from oil to wheat soaring over the past two weeks. The war is starting to have wider repercussions as sanctions and self-imposed restrictions on Russian businesses choke off shipments from one of the world’s biggest exporters of raw materials.