Hydro has notified UC Rusal that it may be necessary to declare force majeure on certain contracts due to the United States imposing sanctions on the Russian aluminium producer, Hydro said on Friday April 20.
This is because Hydro could be prevented from upholding its obligations due to the sanctions issued by US Department of the Treasury against Oleg Deripaska and Rusal on April 6, the company said."Hydro estimates the potential impact on its production and customers would not be significant, neither upstream nor downstream," the company added. Hydro is an integrated aluminium producer and a major supplier of value-added aluminium (VAP) products. Hydro joins other companies who have declared force majeure due to the sanctions.Rio Tinto said earlier this month...