April 27, 2018 / 2:08 PM / a year ago

Russia's VEB does not plan to restructure Rusal's debt - official

MOSCOW, April 27 (Reuters) - Russian state development bank VEB does not currently plan to restructure Rusal’s debt, the bank’s first deputy chairman, Nikolai Tsekhomsky, said on Friday.

“We see no worsening of the creditor’s financial position,” said a further deputy chairman, Andrei Moskovskikh, adding that Rusal could operate as normal until October.

Washington this month imposed sanctions on billionaire Oleg Deripaska and several companies in which he is a large shareholder, including Rusal, in response to what the United States called Russia’s “malign activities.” (Reporting by Daria Korsunskaya Writing by Gabrielle Tétrault-Farber Editing by Polina Ivanova)

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