Russian aluminium giant Rusal swings to first-half loss as expenses surge

Rusal's Financial Performance: Rusal reported a net loss of $87 million in the first half of the year, a significant decline from a profit of $565 million last year, primarily due to rising costs, higher interest expenses, and foreign exchange losses.

Impact of Sanctions and Costs: The company has been affected by Western sanctions related to the Ukraine conflict, leading to increased finance expenses and a 40% rise in cost of sales, despite a 32% increase in revenue driven by higher aluminium sales.