Following the announcement by the US Treasury Department on 6 April 2018, that it was implementing sanctions on various Russian individuals and companies, Rio Tinto has reviewed its arrangements with impacted entities.
According to the company, the arrangements include Rusal’s 20% interest in Queensland Alumina Ltd in Australia, encompassing Rusal’s associated supply and offtake arrangements, bauxite sales to Rusal’s refinery in Ireland and offtake contracts for alumina that are used at Rio Tinto’s smelters, mainly in France and Iceland.
As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimise any disruption in supplies.
Rio Tinto is fully committed to complying with the US sanctions.
Read the article online at: https://www.globalminingreview.com/finance-business/16042018/us-sanctions-force-rio-tinto-to-suspend-rusal-contracts/