Rusal said U.S. sanctions may lead to technical breach of contract

- Apr 12, 2018 -

Rusal said U.S. sanctions may lead to technical breach of contract


Rusal issued a notice on the Hong Kong Stock Exchange saying that the sanctions list that was included in the U.S. Department of the Treasury’s Foreign Assets Management Office may lead to technical defaults on certain credit responsibilities of the group.


The company is evaluating the impact of technical defaults on the financial status of the group.


Initial assessments show that the sanctions are likely to have a "substantial adverse effect" on the Group's business and prospects.


The annual report may be delayed.


The company intends to continue to fulfill its existing commitments.


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