Economics
U.S. Softens Stance on Rusal Sanctions; Aluminum Plunges
- Mnuchin says U.S. is reviewing Rusal request to lift sanctions
- U.S. statement adds pressure on Deripaska to give up control
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The U.S. softened its position on sanctions against Russian metals giant United Co. Rusal, sparking a record plunge in aluminum prices.
For the first time, the U.S. Treasury discussed a path for lifting the sanctions on Rusal, saying it would provide relief if Oleg Deripaska relinquished control. It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months.