Amrith Ramkumar

speaker

860 appearances 16 recordings 1 series first heard May 2018 last heard Sep 2021

Amrith Ramkumar’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Sanctions on Russian Aluminum Spook Market · 8 May 2018 podcast

steps. voice-verified

And so what this really does for a lot of these companies is it adds uncertainty, given, like we mentioned before, the trade tensions with China and this broader kind of protectionist trade policies. voice-verified

They don't really know how aggressive they can be in, for example, spending when they're not sure what their input costs are going to be. voice-verified

So it really is, when listening to some of these earnings call pretty striking, how kind of cautious a lot of these companies are having to be. voice-verified

Exactly. voice-verified

Right. voice-verified

And that's the biggest thing is the uncertainty. voice-verified

So the sanctions on April 6th basically set an early June deadline for all investors to exit their dealings with this company, Russell. voice-verified

But then less than two weeks later, the U.S. voice-verified

extends that deadline to October and kind of laid out a path through which Russell could basically escape the sanctions and not be blacklisted. voice-verified

But the issue there is voice-verified

that path involves the sanctioned owner, majority owner, Oleg Deripaska, basically agreeing to sell. voice-verified

And so there are basically all these reports that he didn't want to sell, and then he eventually did agree to sell. voice-verified

But there are very few clear buyers. voice-verified

So traders, and like you mentioned, anyone who uses this stuff is very kind of hesitant because they don't want to be in violation. voice-verified

And voice-verified

I think another important point is that European companies, as soon as the sanctions were put into place, basically forced the U.S. voice-verified

to kind of walk back its position because they complained that Rusal Metal is so vital to their operations. voice-verified

Like I mentioned at the start, there are just very few large suppliers outside of China. voice-verified

So it really has rippled through global industries. voice-verified

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