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Kremlin says nationalizing sanction-hit Rusal is an option

April 19, 2018

MOSCOW (AP) — The Kremlin says a temporary nationalization of aluminum producer Rusal is being discussed after the company was hit by United States sanctions.

President Vladimir Putin’s spokesman Dmitry Peskov says nationalization is “one of the viewpoints which is being actively discussed” as the government mulls how to support Rusal.

Peskov adds that “it is important here to understand the opinion of the company’s shareholders, the company’s owners and the government,” and that no decision has yet been reached.

Earlier this month, the U.S. hit Rusal and its major shareholder, tycoon Oleg Deripaska, with sanctions that have blocked the company from using many international financial institutions and caused it to lose customers. Its share price has also fallen sharply.

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