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The export ban, which covers alumina and alumina ores including bauxite, was announced on Sunday after the federal government became aware that Rusal was delivering a ship to Australia this week to pick up a cargo of alumina. Russia, until now, has depended on Australia for nearly 20 per cent of its alumina supply.

Alumina produced at QAL is also shipped to buyers in the Middle East, China and New Zealand.

Oleg Deripaska, a Russian billionaire and ally of President Vladimir Putin, was last week added to the Australian government’s list of sanctioned businessmen.

Mr Deripaska owns a large stake in En+ Group, Rusal’s majority shareholder.

Rusal’s spokesperson said in a statement that Mr Deripaska had surrendered his majority interest and control over Rusal and its parent company, En+, following an agreement with the US Treasury in 2019.

“Pursuant to the agreement with the US Treasury, which removed Mr Deripaska from control of the business, and which remains effective and ongoing, Mr Deripaska cannot receive any type of financial benefit from his minority holding in EN+, Rusal or any part of the group and is completely blocked from receiving dividends,” the spokesperson said.

“Rusal and En+ have been diligent in discharging all of their obligations under the agreement with the US Treasury on an ongoing basis, and both Rusal and En+ are operating in full compliance with it.”

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