Home > News > Russia

Russian aluminum giant Rusal calls investigation in Ukraine ‘political pressure'

Wednesday, Aug 30, 2017
点击:

Russian aluminum giant Rusal views an investigation regarding its Zaporozhye Aluminium Smelter (ZALK) in Ukraine as an attempt to put political pressure ahead of litigation in an international court, a company spokesman said on Tuesday.


"The company views those illegal actions as an attempt to retaliate and put political pressure over a lawsuit against the government of Ukraine filed by Rusal to the International Centre for Settlement of Investment Disputes (ICSID)," an official spokesman for the company told TASS.

Earlier in the day, it was reported that the Security Service of Ukraine (SBU) accused Rusal representatives, former ZALK managers, Ukrainian businessmen and foreign citizens of deliberately destroying ZALK to the benefit of Russia.

According to investigators, the state of Ukraine sustained losses of over $39 million and over 100 million Ukrainian hryvnias (about $4 million) as a result of their actions.

The facility, Ukraine’s only aluminum producer, halted production completely in 2014.

The Ukrainian government nationalized ZALK in 2015, accusing Rusal of deliberately eliminating a market rival. A 68-percent stake in the enterprise was handed over to the State Property Fund of Ukraine. The Russian aluminum producer retained a 29.56-percent stake in ZALK. Rusal subsidiaries Emergofin B.V. and Velbay Holdings Ltd turned to the International Centre for Settlement of Investment Disputes (ICSID) in a bid to reverse the nationalization.

Recommended exhibitions

Aluminum company promises to hire 550 in heart of Appalachia
An aluminum company says it will build a $1.3 billion plant in the heart of Appalachia, promising to hire 550 people and......
Aluminium China 2017 to Drive Industry Transformation in Lig
This year’s Aluminium China in Shanghai from 19-21 July is set to mark a new period of growth in the aluminium industry......
International aluminum meeting to include Northern Ontario c
Advocates for workers who were exposed to aluminum dust while working in Northern Ontario mines will present their work ......
The 5th CNIA China International Conference on Energy Conser
Affected by constantly slower economic growth both at home and abroad,demand for nonferrous metal product remain feeble, ......