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Government does not plan to buy into Rusal — Russian finance minister

April 11, 17:26 UTC+3

The government does not plan to acquire a stake in Rusal but will support the aluminum producer in the form of short-term liquidity

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© Alexandr Sherbak/TASS

MOSCOW, April 11. /TASS/. The government does not plan to acquire a stake in Rusal but will support the aluminum producer in the form of short-term liquidity or other measures under consideration now, Finance Minister Anton Siluanov told reporters on Wednesday.

"Acquisition of a stake in Rusal by the government is not anticipated," Siluanov said. An option of aluminum buying into state reserves is not reviewed so far also, he added. "We do not plan purchases of aluminum or any other metals to state reserves, with the exception of gold," the minister said.

The company needs support at the same time since it is one of major employers, the minister said. "Rusal has certain restrictions but we must take care of stable operations of companies owned by Rusal in the first instance. Labor teams are there, about 170,000 employees, and the state should bear this in mind. Therefore, we interact with companies hit by sanctions and will definitely provide support to them, whether as short-term liquidity or other support measures worked out now," Siluanov noted.

The government can provide impacted companies with temporary liquidity through state-owned banks, the minister added.

On April 6, the US authorities imposed sanctions against a number of Russian officials, businessmen and companies, including Rusal and its co-owner Oleg Deripaska.

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