US sanctions on Rusal puts future of Aughinish Alumina under pressure

Aughinish Alumina is Europe's largest alumina refinery at the Shannon estuary in Ireland and a major alumina asset of RUSAL contributing about 30 per cent of alumina produced in the EU; The crisis engulfing Aughinish Alumina's Russian owner Rusal is affecting the customers and employees of one of the world's most energy efficient and technologically advanced alumina refineries worldwide.

An Ireland government spokeswoman was not in a position to determine what the sanctions would mean for the Rusal refinery and its employees.

"The Department of Business, Enterprise and Innovation is assessing the potential implications that new US sanctions, targeting certain Russian individuals and firms, may have for both Irish and overseas companies operating in Ireland. The Department is also in close and regular contact with its enterprise agencies, IDA Ireland and Enterprise Ireland, who are monitoring this evolving situation," the government spokeswoman said.

Rusal took control of Aughinish Alumina in Limerick in 2007. The plant refines imported bauxite into alumina and employs about 450 persons. The company could not be reached for any comment on the development.

While Russian markets, including the rouble, fell across the board on Monday, Rusal assets were hardest hit and are affecting the aluminium market because of its widespread business implications and integration with the world aluminium supply chain.