Rio Tinto, the world's second-largest miner by market value, joined the list of multinational companies shunning the Russian market after the conflict between Russia and Ukraine escalated. The company said Thursday it was "terminating all commercial relationships with any Russian companies."
Rio runs the joint venture, Queensland Alumina, with Russian aluminium producer Rusal, which has a 20 per cent stake. Rio declined to comment further on the impact of the joint venture, but reiterated a statement made last week that the company had put in place "appropriate structures" to ensure Queensland Alumina's operations would not be disrupted.
It is unclear whether Rio's latest move will affect its Operations in Mongolia, where it buys fuel and other products from Russia for use in operations such as its Oyu Tolgoi copper mine.
Rio kontrollerer også et stort aluminiumoxidraffinaderi i Queensland, Australien, hvor Rusal ejer en ejerandel på 20 procent. Virksomheden gennemgår mulighederne for et sådant partnerskab, sagde Journal, med henvisning til folk, der er bekendt med sagen.
På nuværende tidspunkt har mere end 300 europæiske og amerikanske multinationale virksomheder annonceret forskellige grader af suspension af forretnings- og investeringsaktiviteter i Rusland, der dækker energi, luftfart, bil, detailhandel, fremstilling, finans, teknologi og catering, musik, rådgivning og mange andre aspekter.
Blandt energiselskaberne trækker Exxon Mobil, det største børsnoterede amerikanske olieselskab, sig ud af sit Sakhalin-1LNG-projekt og vil ikke foretage nye investeringer i Rusland. BP og Shell trækker sig ud af joint ventures i Rusland og trækker personale ud af landet.
In response, Russia is drafting legislation to consider "nationalizing" the exited property
