RusAl may suffer $15m in losses annually

The Russian aluminum giant RusAl may lose $15 million annually because of the eastward expansion of the European Union , RusAl Deputy General Director Alexander Livshits told reporters. He said that aluminum import duties in Eastern European countries joining the EU were lower than in current EU members and that duties would rise after they join the bloc.

He said the EU and Russia should sign an agreement under which the EU would compensate RusAl for the losses. Malta, Slovenia, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia signed an agreement Thursday to join the EU by May 2004, the Russia Journal reported.

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