Russian court rules in favour of Rusal in $1.32 billion lawsuit against Rio Tinto

Russian court rules in favour of Rusal in $1.32 billion lawsuit against Rio Tinto | Global Banking & Finance Review | GBAF

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Home > Finance > Russian court rules in favour of Rusal in $1.32 billion lawsuit against Rio Tinto

Finance

Russian court rules in favour of Rusal in $1.32 billion lawsuit against Rio Tinto

Published by Global Banking and Finance Review

Posted on December 15, 2025

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Tags:aluminium sector corporate governance financial management Investment opportunities international financial institution

MOSCOW, Dec ‌15 (Reuters) - A Russian court has ruled in favour of Rusal in the ‍aluminium giant's ‌104.75-billion-rouble ($1.32 billion) lawsuit against global mining and metals company Rio Tinto, according to ⁠court documents.

The ruling intensifies a legal battle ‌over a joint alumina refinery in Queensland, Australia, that Rio took sole control of after Australia imposed sanctions on Russia over its war in Ukraine.

The lawsuit was heard in closed session, ⁠and its details have not been disclosed. Rusal declined to comment. Rio Tinto was not immediately available.

RUSAL SEEKS SUPPLIES FROM ELSEWHERE

Rusal filed the lawsuit after losing a ‌case in Australia in 2024 to ⁠restore its rights to a 20% stake in the alumina plant Queensland Alumina Ltd (QAL).

Australia responded to the 2022 launch of Russia's military campaign in Ukraine with sweeping sanctions, including a ban on exports of the aluminium raw material to Russia.

Shortly after the ban was imposed in March 2022, Rio took sole control of QAL, sidelining Rusal and cutting its access to the refinery's output. Rio owns 80% of the ‍refinery.

Rio has no assets in Russia, but among the defendants in Rusal's lawsuit were Rio subsidiaries that own 66% of the Oyu Tolgoi copper-gold deposit in Mongolia, a country Moscow calls "friendly" and which has not imposed sanctions on Russia.

Australia's alumina export ban and the suspension of operations at a refinery in Ukraine prompted Rusal to seek additional supplies from China and ⁠other countries to feed its Siberian aluminium smelters in 2022.

In 2025, Rusal said it would gradually acquire up to a 50% stake in an alumina plant in India. It also announced plans to build a new 4.8-million-ton alumina plant in Russia's Leningrad region in 2028.

In 2023, Rusal acquired a 30% stake in a Chinese alumina refinery to ‌support feedstock from its assets in Russia, Ireland, Jamaica and Guinea.

($1 = 79.2000 roubles)

(Reporting by Anastasia Lyrchikova in Moscow. Additional reporting by Clara Denina in London. Editing by Mark Potter)

Frequently Asked Questions about Russian court rules in favour of Rusal in $1.32 billion lawsuit against Rio Tinto

1What is an alumina refinery?

An alumina refinery is a facility that processes bauxite ore to produce alumina, which is then used to manufacture aluminum.

2What is corporate governance?

Corporate governance refers to the systems and processes that direct and control a company, ensuring accountability and transparency in its operations.

3What is a joint venture?

A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits and risks.