Moscow is holding off on taking retaliatory measures against the United States for imposing sanctions on Rusal, hoping the EU can persuade Washington to ease restrictions against the world’s second largest aluminium producer further, sources told Reuters. The United States on Monday gave American customers of Rusal more time to comply with the U.S. sanctions imposed earlier this month after some European capitals lobbied for them to be eased, triggering a 43-percent jump in Rusal’s Hong-Kong listed shares.
With French President Emmanuel Macron already in Washington and German Chancellor Angela Merkel planning to go there later this week, Moscow hopes both leaders can reopen European markets for Rusal’s aluminium, a source at the finance ministry said. “Everyone is sitting now and waiting to see if Merkel agrees with Trump, if she secures exceptions,” the source said. “This explains why Russia is not going in with all guns blazing now.”
Washington blacklisted Rusal and its billionaire major shareholder Oleg Deripaska, along with some other Russian businessmen, for suspected meddling in the 2016 U.S. election and other alleged “malign activity”. For many of those affected, the sanctions were a surprise, said a source close to the Russian government. “Our side did not think that there would be such pressure, but the West did not expect it either. Therefore, attempts are being made to ease the pressure on both sides,” he added.
