Russian aluminum giant Rusal reported a 184.8% surge in annual net profit.
Rusal faces indirect sanctions pressure, including a 2024 London Metal Exchange (LME) ban on new Russian metal deliveries. While European sales still account for 20% of revenue, the company is pivoting to Asian markets and capitalizing on green energy trends. Aluminum demand in electric vehicles (EVs) surged due to stricter emissions rules and battery tech advancements, with Rusal highlighting EVs as a key growth driver.
Despite producing 3.99 million tons of aluminum (+3.7% YoY), sales dropped 7.1% to 3.86 million tons amid geopolitical headwinds. The EU’s latest sanctions introduced a 275,000-ton annual quota for Russian aluminum, easing transition pains but underscoring long-term risks.