RUSAL
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14 October 2008 г. | 12:37
UC RUSAL receives resolution from arbitration court on suit against LUKOIL
UC RUSAL announces that it has received the decision of the Moscow arbitration court on its suit against LUKOIL. In accordance with the appeal filed by UC RUSAL on 13 August 2008, LUKOIL is obliged to supply about 20,000 tn of oil coke to UC RUSAL smelters. The court has also ruled that LUKOIL should be fined 750,000 rubles (appr. $30,000). UC RUSAL is satisfied with the court decision and looks forward to LUKOIL fulfilling its obligations.
For record, In August 2008, UC RUSAL filed a lawsuit against LUKOIL for its disruption in the supply of raw materials. From April 2008, LUKOIL unilaterally reduced the supply of oil coke to UC RUSAL’s laluminium smelters by almost two times, thereby breaking its long-term contractual obligations and inhibiting the operations of UC RUSAL’s aluminium smelters. The supply agreement was signed in 2006 and is valid until 2011.
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