Russia permits national bank to sell AAUs
According to reports today, Russia has given the go-ahead to its largest national bank, Sberbank, to sell the country’s Assigned Amount Units (AAUs), prompting fears of a potential flood of AAUs entering the market pre-2013.
It is estimated Russia has approximately 4.5 billion tonnes of AAUs to sell out of the country's original total of 100 million tonnes for the period to 2012.
Barclays Capital analysts have commented on the timing of the announcement, which they say is notable in the run-up to Copenhagen in December. It has been suggested a new international agreement could call an end to AAU trading.
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