Sunday, 22 April, 2018

Fresh Russian Sanctions Snare Some Western Firms

Rusal shares plunge sharply on U.S. sanctions Rusal shares plunge sharply on U.S. sanctions Oleg Deripaska
Jodi Jackson | 11 April, 2018, 17:06

The company made this statement amid a sharp decline in its shares: they fell by more than 40% on the stock exchange in Hong Kong. The websites of Rusal and sister company En+ were down on Tuesday evening for unknown reasons, although they'd worked earlier in the day.

Russia's Moex stock market fell 7.6%, hitting funds exposed to the country.

The London Metal Exchange (LME) will suspend Rusal's aluminium from its list of approved brands from April 17 after some members raised concerns about settling LME contracts with sanctioned companies, LME Chief Executive Matt Chamberlain told Reuters.

The entrance to a Moscow business centre that houses the offices of the aluminium giant Rusal, one of the companies controlled by the Russian billionaire Oleg Deripaska.

The United States imposed major sanctions on Friday against 24 Russians, striking at allies of President Vladimir Putin in one of Washington's most aggressive moves to punish Moscow for its alleged meddling in the 2016 US election and other "malign activity". By making it virtually impossible for Deripaska's businesses to trade in USA dollars, the measures threaten the empire of one of Putin's closest allies.

Rusal is the second-largest aluminum maker in the world, while the USA is the largest importer of aluminium.

The firm, which produces nearly 6% of the world's aluminium, said the sanctions could cause technical defaults on bank loans and some credit obligations.

Glencore CEO Ivan Glasenberg also resigned from his role as a Rusal director. Rusal, which made Washington's sanctions list last week. The company floated its shares in London in November, raising $1bn (£710m), despite concerns that it could face sanctions related to Deripaska's ties to Putin.

'The Russian government operates for the disproportionate benefit of oligarchs and government elites, ' said Treasury secretary Steven Mnuchin.

Prime Minister Dmitry Medvedev said Moscow was looking at how to support the companies and sectors that have been hit.

The sanctions have had knock-on impact on precious metal palladium, which has surged 6 percent this week on the back of concerns about supply from number one producer Russian Federation.

Recommended

  • Bus Roof Sliced off as It Goes Under New York Bridge

    Bus Roof Sliced off as It Goes Under New York Bridge

    State Police still need to confirm the actual route through a forensic analysis of the device and passenger interviews. The crash, which completely sheared off the roof of the vehicle, happened Sunday night in Lakeview .
    Tristan Thompson Cheating: Why Khloe Kardashian's Family Had Concerns Over Their Relationship

    Tristan Thompson Cheating: Why Khloe Kardashian's Family Had Concerns Over Their Relationship

    In a video captured by other club-goers, Tristan could be seen chatting with a mystery woman at the PH-D Lounge rooftop bar. Khloe is now 9 months pregnant with her first child and it is thought she is in the hospital ready to have her baby today.
    Ronda Rousey stuns with debut performance at Wrestlemania 34

    Ronda Rousey stuns with debut performance at Wrestlemania 34

    The match had always been hailed as Rousey's comeback after she lost her title to Holly Holm in 2015. Ronda Rousey killed it. 'This is not a smash and grab, this is not a publicity stunt'.
  • Brock Lesnar Re-Signs With WWE But Could Still Fight In UFC

    Brock Lesnar Re-Signs With WWE But Could Still Fight In UFC

    It is notably reminiscent to 2015 when Lesnar used rumors of a return to the UFC to negotiate a new WWE deal. WWE Chairman & CEO Vince McMahon announced today that Universal Champion Brock Lesnar has re-signed with WWE.
    One more BJP MP joins chorus over Dalit issue

    One more BJP MP joins chorus over Dalit issue

    There is a sense of stimulation among the party workers in regard to the direct interaction with the Prime Minister. It was a declaration of war with a firm eye on the 2019 Lok Sabha elections.
    Respected PM to satisfy ego: Andhra Pradesh CM N Chandrababu Naidu

    Respected PM to satisfy ego: Andhra Pradesh CM N Chandrababu Naidu

    Kejriwal had recently met Andhra Pradesh Chief Minister N Chandrababu Naidu in Delhi. "This is not democracy, not correct. Lok Sabha members of TDP chose Parliament's Central Hall as the venue of their sit-in protest.
  • Syria says United States  suspected of attacking air base but Pentagon denies it

    Syria says United States suspected of attacking air base but Pentagon denies it

    The Pentagon said it wasn't conducting airstrikes, with a spokesman saying that "we continue to closely watch the situation". The attacks have come almost a week after Trump expressed his desire to bring the USA troops back to the country.
    North Korea tells USA  it will discuss de-nuclearisation

    North Korea tells USA it will discuss de-nuclearisation

    Secretary of State, and the team from the Central Intelligence Agency are dealing with the preparations to the summit. In a separate report , a United States think-tank says North Korea may have started testing a new reactor.
    YouTube shooter's dad speaks publicly for the first time

    YouTube shooter's dad speaks publicly for the first time

    Mountain View police objected to that characterization and in a statement Wednesday detailed their exchange with Aghdam's family. Her mother broke down when it was brought up that the day of the interview, Thursday, would have been her 39th birthday.
  • Roma dreaming of Kiev after comeback against Barcelona

    Roma dreaming of Kiev after comeback against Barcelona

    According to Ivan San Antonio of the same outlet, Valverde had a similar message: "We're sorry for them, for the disappointment". They have been eliminated from FA Cup and Champions League this season, after a promising start in both campaigns.
    Conor McGregor released on $50000 bail

    Conor McGregor released on $50000 bail

    Straight after the bus incident, Nurmagomedov called out McGregor and seemed to challenge him to an unregulated fight . Star brawler Conor McGregor is a free man, following a backstage melee in an outburst that could harm his star power.
    US slaps sanctions on Putin's allies

    US slaps sanctions on Putin's allies

    The measures announced by the Treasury Department were also aimed at 17 senior Russian government officials. Campaigners against Kremlin corruption welcomed the United States move.

Volkswagen poised to axe boss Matthias Mueller Volkswagen poised to axe boss Matthias Mueller Chairman Hans Dieter Poetsch is in discussions with "certain members" of the firm's supervisory board and management board. The company said in its statement on Tuesday that it was considering changes to its complicated management structure.

Candidate list circulated on social media for Karnataka polls 'fake': Congress Candidate list circulated on social media for Karnataka polls 'fake': Congress Mumbai: The Bharatiya Janata Party (BJP) on Monday released a list of 72 candidates for Karnataka assembly contest. Karnataka is scheduled to go for Assembly election in May this year.

Cong leaders gobble chhole bhaturas, other delicacies before daylong fast Cong leaders gobble chhole bhaturas, other delicacies before daylong fast Speaking to reporters at Rajghat, Gandhi also said the grand old party will defeat the BJP-led NDA in the 2019 general election. The BJP follows ideology of oppressing Dalit, Tribal and minorities.

Facebook Has A Two-Tiered Privacy System That Favors Its Leaders Facebook Has A Two-Tiered Privacy System That Favors Its Leaders The researcher then sold the data to Cambridge Analytica , which was against Facebook rules. As a result it's likely to take some time for the full facts to come out.

Bill Cosby's $3.4M settlement: Evidence of guilt or greed? Bill Cosby's $3.4M settlement: Evidence of guilt or greed? The most well-known of the five is 63-year-old model Janice Dickinson, who says Cosby drugged and sexually assaulted her in 1982. In this case, the jury will also be privy to the amount of money Cosby paid Constand when they originally settled the case.

National Guard members begin arriving at US-Mexico border National Guard members begin arriving at US-Mexico border In Mexico Metropolis, a caravan of Central American migrants that had been heading north stopped inside the Mexican capital. In California, Brown's spokesman, Evan Westrup, said Monday that state officials are still reviewing Trump's troop request.

The royal baby is on its way The royal baby is on its way Kate and William decided not to learn the gender of their upcoming addition until he or she is born, Vanity Fair reports . Kate and William already have the help of George and Charlotte's full-time live-in nanny Maria Teresa Turrion Borrallo.

Police still searching for motive of man behind van crash Police still searching for motive of man behind van crash Police quickly evacuated the area and ambulances, firefighters and helicopters rushed to the scene to aid those who were injured. A 51-year-old woman from Lueneburg in northern Germany and a 65-year-old man from Borken municipality near Muenster were killed.

LeBron James and Ben Simmons Share Instagram Props After Dueling Triple-Doubles LeBron James and Ben Simmons Share Instagram Props After Dueling Triple-Doubles Rockets 96, Trail Blazers 94: Chris Paul hit an off-balance layup with 0.8 seconds left to lift Houston past Portland in Houston. Markieff Morris had another understated yet productive all-around game Wednesday with 15 points, five rebounds and four assists.

Raikkonen fastest in Bahrain 2nd practice Raikkonen fastest in Bahrain 2nd practice With such fine margins, any one of the three teams could prove to be quickest during Sunday's race. Ricciardo's Red Bull team-mate Max Verstappen will start only 15th after crashing out in Q1.

Arsenal v Southampton - story of the match Arsenal v Southampton - story of the match Welbeck scored a late victor for Arsenal to inflict more misery on Mark Hughes' Southampton side. Southampton are three points behind 17th placed Crystal Palace but with a game in hand.

Partey: Madrid derby 'more important' for title-chasing Atletico Partey: Madrid derby 'more important' for title-chasing Atletico However, their lead lasted less than five minutes as Griezmann capitalised on some poor defending to equalise it at 1-1. In the 20th minute, Atletico thought they had taken the lead when Diego Costa fired past Keylor Navas .

Orban projected to hold majority in key Hungary vote Orban projected to hold majority in key Hungary vote Pollsters think a high turnout could benefit the opposition. "The Hungarian political landscape will dramatically change today". Speaking at a recent campaign rally, Orban accused the European Union of "trying to take away our country".

Not* Travel with a Royal Toilet Seat Not* Travel with a Royal Toilet Seat That campaign was defeated at a referendum in 1999 in which most Australians voted to maintain the status quo. Upon arrival, the couple was greeted in Brisbane by Governor-General Peter Cosgrove with a 21-gun salute.

Pochettino on Harry Kane's fitness, Daniel Levy's earnings and Stoke clash Pochettino on Harry Kane's fitness, Daniel Levy's earnings and Stoke clash Any Spurs players feeling underpaid and undervalued could perhaps be angered by that pay boost for the man at the top. Klopp, though, reckoned he was satisfied with a performance that saw Liverpool largely control proceedings.