Politico: US eases sanctions on Deripaska's Rusal - Apr. 24, 2018

Politico: US eases sanctions on Deripaska’s Rusal

Published April 24, 2018 at 5:11 pm

In this file photo taken on June 1, 2017 Russian billionaire Oleg Deripaska, who heads aluminium producer Rusal, attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg. The US Treasury on April 23, 2018 said that it could lift sanctions on Russian aluminum giant Rusal if tycoon Oleg Deripaska gives up control of the company. The announcement sent aluminum prices falling by 7.2 percent on the London Metals exchange, while other metals including gold, nickel and palladium also fell sharply.The Treasury said in a statement that it would give companies more time to comply with the sanctions Washington announced April 6 against Russian officials in response to the attempted murder by poisoning of former spy Sergei Skripal, which Britain and the United States have pinned on the Kremlin.

Photo by AFP

The Treasury Department on April 24 eased sanctions on Russian aluminum producer Rusal and said it would consider lifting them altogether if the company severs ties with Oleg Deripaska, a Russian oligarch with close ties to President Vladimir Putin.

Rusal was sanctioned earlier this month by Treasury’s Office of Foreign Assets Control because of Deripaska’s stake in the company. The Russian billionaire is alleged to have conducted a range of illegal activities, including money laundering, extortion and ordering the murder of a businessman, according to Treasury.