Seals on the share capital of Eurallumina: the effects of Russia's war of aggression against Ukraine and the consequent sanctions decided on Russian assets reach up to Sulcis
Frozen
It had been known since the beginning of the war that Portovesme's Eurallumina was already under the attention of the bodies responsible for its Russian ownership but, in early May, the Financial Security Committee (a body of the Ministry of Finance which, among other activity monitors the activities of countries that threaten international peace and security) would have decided to freeze the share capital of Eurallumina, 15.5 million euros, because it would be considered linked to the Russian oligarch Oleg Deripaska, even if the shares are held by a Cypriot company owned by Rusal. What will happen at this point to the refinery that has been idle since 2009 and is at the center of a recovery plan worth around 300 million euros? Could the Portovesme factory, which has about a hundred employees and an industrial plan to be implemented with investments planned by Rusal, end up in the hands of the state property? Each year the management of Eurallumina costs more than 20 million euros. Who would have to deal with it if the management passed to the State property by virtue of the sanctions?
