HYDRO CANCELS CONTRACTS WITH RUSSIAN COUNTERPARTS

Hydro will not enter into new contracts with its Russian counterparts. This was announced by the company, which joins the long list of international companies that have cancelled their current agreements with Russia as a measure of condemnation of the invasion of Putin’s troops into Ukraine, which has already claimed the lives of hundreds of people.

Hydro has thus announced that it will not enter into new contracts with Russian producers until further notice. This is due to the Russian invasion of Ukraine and the sanctions imposed on Russia by the European Union and the international community. Hydro is also evaluating options for existing commitments, including the possible freezing of trade relations.

Precisely, Hydro has no business-critical supplies from Russia or Ukraine. The company maintains business relationships with Russian aluminum trading companies and producers, buying and selling raw materials such as bauxite and alumina, aluminum metal for remelting and billets for aluminum extrusion. Hydro’s counterparties are not currently subject to international sanctions.