Roman Olearchyk writes: A Ukrainian court has renationalized an aluminium smelter owned by Rusal, the world’s largest aluminium producer, for allegedly failing to meet investment undertakings. Rusal is owned and led by one of Russia’s most influential oligarchs, Oleg Deripaska. Analysts said the decision demonstrates that courts under President Viktor Yanukovych – who has improved relations with Russia since his election in 2010 – are not afraid to stand up to the most influential Russian business interests.
“This is one of the first sizable assets in Ukraine taken away from big Russian businesses by Ukraine’s leadership,” said Vadim Karasiov, head of the Kyiv-based Global Strategies Institute, a political consultancy.
“More importantly, it shows that Yanukovych is not pro-Russian, as he was earlier labelled to be,” Mr Karasiov added. “In contrast, he represents the interests of Ukrainian business clans, which from time to time compete with Russian oligarch-business clans.”
