Shareholders at sanctions-hit Russian aluminium producer Rusal elected a new board of directors on Thursday in an effort to appease the U.S. and get the restrictions lifted. The new board, dominated by independent directors and operational managers, is part of a series of steps which Rusal and its co-owner Oleg Deripaska hope will persuade the U.S. government to remove the company from sanctions that have…

Russian aluminium producer Rusal said Tuesday it will start trial production of red mud-based flux additives at its Urals aluminium smelter (UAZ) from its new red mud recycling process. The company will also produce its first scandium concentrate at its new 2 mt/year capacity built at the UAZ smelter. Rusal started building its own scandium concentrate capacity in March and it is scheduled to be…

Russian railway company RZD is eyeing construction and operation of Brazil's main railway, known as the Norte-Sul (pictured), which will eventually run some 4,156km from the northern state of Pará to the southern state of Rio Grande do Sul. RZD representatives have requested technical information about the project from national transport authority ANTT and a Russian delegation is expected to visit Brazil by…

The state-owned Russian Railway Company is in discussions with the government of Ethiopia on potential opportunities to engage in railway development projects, according to The Reporter. A Russian delegation, led by Russian Railway vice president Alexandor V. Saltanov, held talks with the Foreign State Minister Dawano Kedir in Addis Ababa last week. “We are in the process of contact with our Ethiopian…

RUSSIA: The Russian Railways board has approved the sale of half of its 50% stake in airport train operator Aeroexpress to TransGroup subsidiary Delta-Trans-Invest, which currently has a 25% shareholding. The reported price of €11.7m is based on a market value calculated by an independent appraiser. Announcing the planned sale on February 11, RZD said it was still interested in the development of…

What if U.S. citizens could drive…to Asia? A new proposal from Russia would see the country connected to the U.S. by highway bridge as part of a massive superhighway crossing the length of Russia, ultimately linking New York and London. Called the Trans-Eurasian Belt Development (TEPR), the ambitious project was proposed by Russian Railways head Vladimir Yakunin earlier this month, according to CNN. The…

Rouble suffers biggest daily fall for over three years and shares in Oleg Deripaska’s firms slump The Trump administration’s new sanctions on Russian oligarchs and top government officials began to bite on Monday as the rouble suffered its biggest daily fall in more than three years, the main Russian stock index slumped and investors dumped shares in businesses controlled by Oleg Deripaska. Russia’s…

The project suggests a Trans-Eurasian Development Belt that would include not only railway lines but also oil, gas and water pipelines, electric lines and all kinds of communication MOSCOW, March 11. /ITAR-TASS/. Europe and Asia should be connected via a multifaceted transport corridor which is bound to give a fresh impetus to global economy and possibly pull the world out of the economic crisis, President…

Russian steel group NLMK is threatening to halt production in western Europe if the EU decides to implement economic sanctions against Moscow, according to reports in the Belgian press. La Libre Belgique revealed yesterday (23 April) a letter from NLMK’s management to European governments where the company is located – Belgium, Italy, France and Denmark - saying EU sanctions against Russia would have…

The world’s largest aluminum company, Rusal, may shut down its unprofitable aluminum smelter, putting 7,560 workers out of a job. It will completely change the landscape of the small towns where the industry provides a lifeline. Russian tycoon and Rusal’s head Oleg Deripaska said he might temporarily stop production at five of his aluminum plants in Russia by the year end. Rusal employs about 72,000 workers…