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27 Jan, 2019 23:37

US lifts sanctions against Russia’s Rusal & En+ but keeps Deripaska blacklisted

The US Treasury has officially lifted its sanctions against Russian companies Rusal, En+ Group, and EuroSibEnergo, emphasizing, however, that Russian businessman Oleg Deripaska, even though he reduced “direct and indirect shareholding stake in these companies and severed his control,” will remain on the blacklist. “The companies have also agreed to unprecedented transparency for Treasury into their operations by undertaking extensive, ongoing auditing, certification, and reporting requirements,” the Treasury’s press release added. Washington introduced the sanctions in April 2018, targeting Russian businessman Oleg Deripaska among others, and companies in which he owns stakes, including Russian aluminum giant Rusal and En+ Group. After the tycoon reduced his stake in the companies, the Trump administration proposed removing the measures in December. European envoys to the US backed the plans, saying it would save thousands of jobs and curb “serious damage” to the aluminum industry.