Russia sets aside RUB 10 billion to buy aluminium

Reuters reported that the Russian government could buy up to 50,000 tonnes of aluminium for the state reserve, a government decree showed on Wednesday, in a move that would support sanctioned Russian aluminium producer Rusal. The decree, dated November 26, allocated up to RUB 10 billion (USD 149 million) for the plan and is the initiative of Russian tycoon Oleg Deripaska. The text of the decree did not specify the reason for the potential purchases and did not give a timeframe. Deripaska is a major shareholder in Rusal through its parent company En+ Group. He was hit by US sanctions in April together with other companies in which he is a large shareholder.