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Rio Tinto to announce force majeure on some contracts due to US sanctions

April 13, 2018, 18:53 UTC+3

On April 6, the US authorities imposed sanctions against a number of Russian officials, businessmen and companies

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MOSCOW, April 13. /TASS/. Rio Tinto, one of the globally largest mining companies, is going to declare force majeure on certain contracts because of sanctions introduced by the United States against Russian companies and businessmen, the company said on Friday.

"As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimize any disruption in supplies," the company reports.

Rio Tinto has also reviewed arrangements with companies affected by US sanctions, including the Russian aluminum company Rusal. "The arrangements include Rusal’s 20 per cent interest in Queensland Alumina Limited in Australia, including Rusal’s associated supply and offtake arrangements, bauxite sales to Rusal’s refinery in Ireland and offtake contracts for alumina that are used at Rio Tinto’s smelters, mainly in France and Iceland," it reported.

Mass media reported earlier that the Swiss trader Glencore declared a force majeure because of sanctions on contracts for 50,000 tonnes of aluminum of Russian origin. The specific aluminum supplier was not indicated.

On April 6, the US authorities imposed sanctions against a number of Russian officials, businessmen and companies. The list includes head of Gazprom Alexei Miller, head of VTB Andrei Kostin, owner of Renova Viktor Vekselberg, general director of Surgutneftegaz Vladimir Bogdanov, board member of Sibur Kirill Shamalov, businessmen Igor Rotenberg, Oleg Deripaska and Suleiman Kerimov.

Sanctions were also imposed on Russia’s Agro-Holding Kuban, Eurosibenergo, Rusal, Russian Machines, GAZ Group, B-Finance, Basic Element, En+, Renova, Ladoga Management, Russian Financial Corporation, NPV Engineering and Gazprom Bureniye.

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