21.10.2022

Statement from RUSAL regarding the indictment on possible oil supplies from Venezuela

RUSAL is aware of an indictment obtained by the United States Department of Justice (“DOJ”) of several individuals and companies for allegedly having engaged in transactions in violation of United States sanctions and export control laws. RUSAL is not been charged, and is not named, in the indictment.

However, the indictment refers to a “Russian aluminum company” that was under US sanctions from April 6, 2018 until January 27, 2019, and RUSAL is aware of media reports identifying it as the “Aluminum Company.”

To RUSAL's knowledge, it was not involved in any purchases of oil from Venezuela alleged in the indictment.  RUSAL is committed to complying with all applicable laws and regulations, including sanctions and export control laws.  Given that commitment to compliance, in view of the allegations in the indictment, RUSAL is conducting a thorough investigation as to those allegations and will take any actions that may be appropriate as a result.

Finally, RUSAL rejects the assertion in the DOJ’s press release that the “Russian aluminum company” referred to therein is “controlled by a sanctioned oligarch.” This assertion is false.  RUSAL is not controlled by any sanctioned person or entity.  Indeed, the United States has acknowledged that RUSAL, which had been placed on the US sanctions list on April 6, 2018, was removed from that list in January 2019 following a reorganization and implementation of compliance measures that, among other things, “severed” the control formerly held of it by Oleg Deripaska, who remains subject to sanctions imposed by the U.S.  See Press Release, Office of Foreign Assets Control, “OFAC Delists En+, RUSAL, and EuroSibEnergo,” January 27, 2019 (Available at https://home.treasury.gov/news/press-releases/sm592).
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