US lifts sanctions

US lifts sanctions

According to reports, the U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal and its parent En+.

In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing "malign activities" by Russia, prompting turmoil in global aluminium markets.

After lobbying by European governments, Washington postponed enforcement of the sanctions and started talks with Deripaska's team on removing Rusal and En+ from the blacklist if he ceded control of Rusal.

Deripaska will remain under sanctions, the Treasury said. However, the three Deripaska companies - Rusal, En+ and power firm EuroSibEnergo - have agreed to restructure to reduce Deripaska's stakes.

For more information visit: https://www.cnbc.com/2018/12/20/rusal-us-to-lift-sanctions-from-aluminium-giant.html

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