Oleg Deripaska’s Rusal drops to historic low

Oleg Deripaska’s Rusal drops to historic low
Oleg Deripaska

On April 6, the US authorities extended sanctions on Russia: the list included 26 people and 15 companies. Rusal and Oleg Deripaska himself were among them.

Today, April 16, shares of Oleg Deripaska's Rusal fell to its historic low at the Hong Kong Stock Exchange, RBC reported.

As compared to Friday, securities of the aluminum company dropped by more than 16% - to 1.62 Hong Kong dollar ($0.21). At 08:30 Moscow time, the shares were 24.51% cheaper, 1.54 Hong Kong dollars ($0.19).

On April 6, the US authorities extended sanctions on Russia: the list included 26 people and 15 companies. Rusal and Oleg Deripaska himself were among them. This resulted in investors getting rid of Russian assets rather fast on what was later referred to as "Black Monday" in the Russian market: with the growth of oil prices, the index of the Moscow stock exchange has suffered the most severe losses since March 2014. The national currency has also weakened.

Meanwhile, Saturday saw the United States, France and the United Kingdom striking a missile attack on Syria, which triggered a further drop in shares. Washington also promised to announce new sanctions on Russia Monday. The restrictions are expected to affect companies involved in Syria supplies, according to Nikki Haley, the US Ambassador to the United Nations.

Tags: Oligarchs
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