Rusal says board backs change of domicile to Russia

Sanctions-hit Russian aluminum giant Rusal says its board has approved a change of domicile from Britain’s Jersey to Russia in order to make use of tax advantages Moscow is now offering, Reuters reports. One day prior, En+ Group, which also got hit by U.S. sanctions targeting co-owner and Russian oligarch, Oleg Deripaska, also said it was considering re-domiciling to one of Russia’s new offshore zones. Rusal’s shares are down 54 percent since it got hit with sanctions on April 6.

 

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