LONDON – Europe's leading power market Nord Pool restored access on Tuesday to Rusal's Swedish aluminium smelter after it was suspended from trading in the wake of US sanctions on the Russian company.
Nord Pool suspended Rusal's Kubal smelter from trading on its exchange on April 18 due to violations of its rule book and said it was working to restore access on April 27.
"Kubikenborg Aluminium AB’s suspension from trading on its markets has been lifted... the company can again start trading on Nord Pool markets from today," Nord Pool said in a statement on its website.
The United States on April 23 extended a deadline for American customers of Rusal, one of the world's largest aluminium companies, to wind down business with the company and said it would not impose secondary sanctions on non-US entities engaged with Rusal or its subsidiaries.
The Kubal smelter in Sweden is Rusal's only primary metal production facility outside of Russia. It produced 123 000 t of aluminium metal last year, or 3% of Rusal's total.