MOSCOW, Sep 18 (PRIME) -- Armenal, an Armenia-based foil-rolling plant of Russian aluminum giant UC RUSAL, has started reducing production and transferring staff to part-time employment, sources familiar with the situation told PRIME on Tuesday.
The reason is declining demand for the facility’s products in light of the sanctions imposed by the U.S. in April against Russian businessman Oleg Desipaska and his companies including RUSAL.
The sources said that the sanctions may lead to a full suspension of the plant.
RUSAL declined to comment.
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