Stocks of Rusal collapse 50% after United States sanctions

Rusal shares plunge sharply on U.S. sanctions

The share price fell 50 per cent to HK$2.32 yesterday, according to pricing from the Hong Kong Exchanges and Clearing website.

The Kremlin on Monday slammed the latest round of sanctions.

EN+, the aluminium to hydropower firm controlled by Mr Deripaska, dived by 25% in London. "The situation is pretty egregious from the point of view of legality, it tramples on all kinds of norms, and so a thorough analysis is necessary", he said.

Deripaska, whose wealth Forbes magazine estimates at $6.7bn, meets Putin regularly and has said his own interests can not be separated from those of the Russian state.

According to Washington, the individuals and companies were targeted for profiting from a Russian state engaged in "malign activities" around the world.

Other Russian oligarchs hit by sanctions include Alexei Miller, CEO of Russia's state-owned energy giant Gazprom, the BBC said.

The company on Friday said that it regretted its inclusion on the new USA sanctions list, adding that its advisors were studying the situation.

"Rusal will probably have to be bailed out by Russian state banks", wrote analysts at TS Lombard.

The company said the sanctions were likely to have a "materially adverse" impact on its business and finances. The Russian ruble has also sold off against the US Dollar and is down 3.5% so far. Shares in Russian steelmaker Evraz were the biggest fallers on the FTSE 100 in London, closing 14.4% lower.

As we reported earlier, the U.S. imposed sanctions against nine Russian companies, and the question on sanctions against 12 companies was specified.

It said Deripaska was sanctioned "for having acted or purported to act for or on behalf of, directly or indirectly, a senior official of the Government of the Russian Federation".

EN+, which only listed in London in November having raised $1 billion from City investors despite fears over the potential of further sanctions being imposed on Russian Federation, said it would focus on maintaining its operations and ensuring it "abides by all applicable laws and regulations".

On Friday Russia's foreign ministry said there would be a "tough response" to the sanctions.

Related News:

  • Body recovered from site of SUV crash off California cliff

    Body recovered from site of SUV crash off California cliff

    The three children whose remains were found at the scene were identified as Markis, 19; Jeremiah, 14; and Abigail, 14. They could have also been swept away by seawater because no one in the SUV was wearing a seatbelt, officials said.

    'Disgusting' McGregor attacks fighter bus at NY event

    McGregor is tight with UFC 223 fighter Artem Lobov , who was involved this week in a scuffle in a hotel with Khabib Nurmagomedov . This weekend's fight against Alex Caceres provided Lobov an opportunity to try to end a two-match losing streak.
    Gareth Bale has been

    Gareth Bale has been "convinced" to join Manchester United

    Madrid drew home and away against Las Palmas last season in La Liga . "I am convinced Real Madrid want to sell Gareth Bale ", he said .
  • Real Madrid won't honour Barcelona title win, and it's my decision - Zidane

    Real Madrid won't honour Barcelona title win, and it's my decision - Zidane

    Speaking post-match, Zidane said: " Cristiano is Cristiano, he has been this player all his life, scoring 50 goals a season". Terry Gibson praised Marcelo for this "touch of the game" as Real Madrid looked for a victor against Atletico.
    Amazon Alexa Is Now Your Home Intercom

    Amazon Alexa Is Now Your Home Intercom

    Can Google Home do announcements? This feature was reportedly already available on Amazon's Fire HD tablet . Amazon is rolling out a feature today that lets users broadcast messages to connected Echo devices.
    Australia's Stannard fractures skull in 'one-punch' assault

    Australia's Stannard fractures skull in 'one-punch' assault

    The attacker was apparently detained by two of Stannard's teammates Lewis Holland and Ben O'Donnell, until police arrived. In the seconds after Stannard was assaulted the trio chased down his assailant and held him until police arrived.
  • Bundesliga match report Augsburg v Bayern Munich 07 April 2018

    Bundesliga match report Augsburg v Bayern Munich 07 April 2018

    Augsburg started at pace, closing down any space for the visitors, and the pressure paid off in the 18th minute with an own-goal. After a quiet spell to the second half, Bayern extended their advantage on 62 minutes with a thumping strike at the near post.
    More Syrian rebels exit stronghold near Damascus

    More Syrian rebels exit stronghold near Damascus

    A man walks on the rubble of damaged buildings in the besieged town of Douma, eastern Ghouta, Damascus, Syria, March 5, 2018. The five had been abducted by the Army of Islam rebel group in Ghouta in 2013 along with many other civilians, it said.
    Tesla Inc. has a rocky road ahead

    Tesla Inc. has a rocky road ahead

    The news isn't entirely rosy as Tesla confirmed nearly all Model 3 cancellations have been the result of delays. Hundreds of thousands of people have pre-ordered the Model 3 and are eagerly awaiting delivery.
  • A dispute, and early-morning shooting and an arrest in southeast Fresno

    A dispute, and early-morning shooting and an arrest in southeast Fresno

    The suspect is urged to hand himself over at the nearest police station, as a manhunt has been launched to bring him to book. Officers arrested a man they say was armed with two knives and tried to grab an officer's gun Tuesday morning.
    Trump threatens to send military forces to guard US-Mexico border

    Trump threatens to send military forces to guard US-Mexico border

    Donald Trump and Mexico's President Enrique Pena Nieto arrive for a press conference at the Los Pinos residence in Mexico City. He recently posted on Twitter that Mexico is sending " caravans " of illegal migrants using USA "weak immigration policies".
    'Affluenza Teen' In Deadly Crash Released From Jail After 2 Years

    'Affluenza Teen' In Deadly Crash Released From Jail After 2 Years

    Couch's attorneys, Scott Brown and Reagan Wynn, issued a statement Monday saying Couch has always been sorry for what he did. Ethan Couch was extradited back to the USA and later sentenced to 720 days in jail for violating the terms of his probation.


Most liked

Will meet with Kim in May or early June
He added that previous presidents should have held such talks. The meeting will be the third summit between the two Koreas.

Israeli police: Palestinian who tried to stab Israeli shot
Hundreds of Palestinians, including Hamas chief Ismail Haniyeh, attended the funeral of Murtaja in Gaza, Palestinian sources said. Meanwhile, it said 14 other journalists were arrested, briefly detained or were fired at by Israeli soldiers but not injured.

Dana White Proclaims Floyd Mayweather Fighting In The UFC Is 'Gonna Happen'
McGregor was involved in an altercation where he threw a hand truck through a bus window carrying UFC fighters and personnel. Floyd Mayweather has commented on Conor McGregror's insane antics at the UFC 223 press conference.

Mack Horton claims Australia's first gold medal
Horton became Australia's first 400 metres freestyle victor at the Commonwealth Games since the great Ian Thorpe with his victory. That was 0.374s quicker than a New Zealand foursome had gone before.

Smith will not challenge ball-tampering ban
ACA believes softening the players' domestic ban would be a step in the right direction and a necessary one too to ensure their rehabilitation is not compromised.

Daughter hails 'apostle of non-violence' Martin Luther King
People gathered near the Martin Luther King Jr., memorial in Washington before kicking off a march on the nation's capital. Bernice King recalled her father as a great orator whose message of peaceful protest was still vital decades later.

700000 votes against Sisi is 'very big achievement': Moussa
The result secures Mr al Sisi's position and his direction for Egypt, following the revolution that began in 2011. Opposition groups had called for a boycott of last week's vote which they labelled a facade.

Putin and Erdogan launched the construction of Akkuyu NPP
The Akkuyu NPP project started with an intergovernmental agreement signed between Turkey and Russian Federation on May 12, 2010. Tomorrow, Putin will be in Ankara for a three-way summit with Erdogan and their Iranian counterpart, Hassan Rouhani .

Michigan Ends Loyola-Chicago's Long, Wild Ride in the Final Four
The Ramblers went more than 5½ minutes without scoring, and 7:39 without making a field goal. "It just happened to be like that". Moser said his team's run and the effect it had on the city and Rambler fans everywhere captured the spirit of the game.

Putin accepts Kemerovo Governor resignation
According to Emergency Service, the flame occurred on the fourth floor, where the cinema and children's playground are located. Tuleyev's deputy, Sergey Tsivilev, has been appointed as acting governor of Kemerovo region.

'Condom snorting challenge': Experts warn of risky trend
Most of the 152 incidents involving condoms - 107 cases, to be exact - were related to ingestion, according to the statistics. The Tide Pod challenge is a unsafe social media trend that involves the consumption of Tide Pods on social media videos .

MI vs. Villanova, 4-2
Kansas (31-8) came into the game playing a guard-heavy lineup that seemed able to chase Villanova's shooters on the perimeter. He has found the range since and now is yet another 3-point threat for one of the best shooting teams in the country.

Olly Murs wants to go to Prince Harry's wedding with his mother
But after the two tied the knot in Jamaica in September 2011, "cracks began to appear in their marriage", according to Morton. With Engelson based in Los Angeles, the couple thought "the sacrifice was going to be worth it", Morton writes.

ICE Will Now Detain Pregnant Women Because of President Trump's Executive Order
Two women told HuffPost they lost pregnancies at ICE detention centers past year . The new policy is explained in an internal email obtained by The Hill .

Sponsors flee Fox host's show amid spat with Parkland student
It all started on Wednesday when Ingraham mocked Hogg, 17, on Twitter for "whining" about being rejected from several colleges. She said he was crying about not getting accepted into four major schools despite holding a 4.1 GPA.