US extends deadline for Rusal sanctions, aluminum prices dive
Updated : April 24, 2018 01:26 PM IST
Aluminum prices on the London Metal Exchange tumbled 8.7% on the US Treasury Department announcement, which gives Rusal longer to sell off large quantities of aluminum it had been stockpiling in the wake of sanctions.
Treasury gave Americans until Oct. 23 instead of June 5 to wind down business with Rusal.
It said it would not impose secondary sanctions on non-U.S. entities engaged with Rusal or its subsidiaries.