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Financial Times: Ukrainian court nationalizes Russian-owned smelter

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May 19, 2011, 8:10 a.m. | Ukraine abroad — by Roman Olearchyk

Roman Olearchyk

Kyiv Post Staff Writer

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.
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