May 24, 2018 / 3:43 PM / a month ago

Oleg Deripaska asks Russian state to buy aluminum from Rusal: government source

ST PETERSBURG (Reuters) - Russian tycoon Oleg Deripaska, major shareholder in aluminum producer Rusal, has asked the Russian government to start state purchases of aluminum from Rusal, a senior Russian government source said on Thursday.

FILE PHOTO: Oleg Deripaska, En+ Group's major shareholder, attends an agreement signing ceremony with the Krasnoyarsk region's government, in Moscow, Russia December 12, 2017. REUTERS/Sergei Karpukhin/File Photo

The United States announced sanctions on Deripaska and Rusal on April 6, preventing customers with U.S. exposure from continuing to buy Rusal’s metal and sending aluminum prices to their highest in almost seven years amid fears of a supply shortage.

The government source said Deripaska had also asked for state support for car maker GAZ and had applied for loans for Rusal from Promsvyazbank, a lender that has been taken over by the Russian central bank.

Russian authorities have approved the loan for GAZ, but no decision has yet been made on the loan request for Rusal, the government source said.

GAZ was also sanctioned by the United States.

Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Andrew Osborn

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