Russian-backed Kentucky aluminum mill says it's not subject to national security review [View all]

WASHINGTON -- A Russian-backed aluminum mill trying to set up shop in Kentucky insists it is outside the scope of any review by a special government panel charged with scrutinizing foreign investment that could cause national security concerns.

A statement to McClatchy Wednesday from Braidy Industries said that while it “respects and supports the important national security responsibilities” of the Committee on Foreign Investment in the United States, its $1.7 billion mill project in Ashland “does not enter or interfere with (the committee’s) rules or regulations.”

Congressional Democrats want such a review because of a planned $200 million investment from a Kremlin-linked company. The Treasury Department, while not confirming or denying any such review, said in a letter Tuesday that it has the power to lead one.

The Braidy statement refers to the project as a “greenfield.” Under the Committee on Foreign Investment’s regulations, greenfields are a type of project involving a U.S. business that did not exist prior to the foreign investment and are not generally subject to the committee’s review.

Read more here: https://www.mcclatchydc.com/news/politics-government/congress/article231221518.html