The United States said Friday that delaying the application of sanctions to Russian companies En+, RUSAL and GAZ Group, as their major shareholder is working on a plan to reduce its share.
About it writes Reuters, reports.
The U.S. Treasury Department gave the Russian oligarch Oleg Deripaska time until 12 December, to cut its stake in three companies, but said yesterday that moved the deadline to January 7, 2019. Thus, the United States extended the period of early completion of the transactions, participation in capital of Russian companies that provide for sanctions.
“Companies are offering substantial changes in corporate governance that can lead to significant changes in the control of these authorized legal entities,” – said the Ministry of Finance.
The U.S. Treasury imposed sanctions in April, Deripaska and several companies in which he is the largest shareholder, with reference to the “criminal actions” of Russia, and also on allegations of a criminal past the Deripaska.
Sanctions, the most severe after the annexation of Crimea by Moscow, was postponed several times because the USA consider that Deripaska is no longer in control of the company, among other steps.
“RUSAL” and its partner, En + in recent months, took Director and guide, not associated with Deripaska in?? negotiations with Washington to ease US sanctions.
Concerns about the effect of sanctions on RUSAL has led to the drop in aluminium markets. RUSAL is the second largest producer in the world after China Hongqiao. Japanese aluminum company UACJ Corp. On 1 November said that excludes “RUSAL” from the vendor list in 2019 due to the uncertainty regarding sanctions.
In may, Deripaska has left the Board of Directors of En +, the largest shareholder of UC Rusal. However, the U.S. Treasury stated that it does not directly constitute grounds for the withdrawal of the company from the sanctions.