Russia's Rusal 2023 dollar bond at 52 cents, new record low

LONDON: Debt issued by Russian aluminium producer Rusal remained under heavy selling pressure on Tuesday, with the 2023 dollar bond tumbling to a fresh record low in the wake of US sanctions.

The bond was trading down 17.3 cents at around 52 cents according to Tradeweb, after Rusal boss and metals magnate Oleg Deripaska was included on a list of US sanctions in response to alleged Russian meddling in the 2016 US presidential election.

Rusal assets were hardest hit after the company warned it risked tipping into technical default.