The U.S. Treasury has made the lifting of sanctions against “Rusala” in case of failure Deripaska control

The U.S. Treasury has made the lifting of sanctions against “Rusala” in case of failure Deripaska control

Moscow. April 23. INTERFAX.RU — the U.S. Treasury could remove the sanctions with “RUSAL”, if the primary owner of the company Oleg Deripaska, will cease to control the company. This is referred to in the statement of OFAC (the structure of the U.S. Treasury, responsible for law enforcement in the area of sanctions), published on Monday.

Deripaska is now in control 48,13% of RUSAL.

American power in the period up to the end of October will consider the petition of “RUSAL”, which requests the deletion of the company from the sanctions list (SDN List), said the head of the U.S. Treasury Steven Mnuchin quoted in the message of Department.

Earlier on Monday it became known that OFAC has issued a license No. 14, which extended the authorization for business transaction with RUSAL to 23 Oct 2018. Earlier completion or cancellation of transactions was 5 June. Secondary sanctions for these transactions will not be imposed.

“RUSAL has felt the impact of US sanctions for his links with Oleg Deripaska, but the American government did not intend to harm the people who do the hard work and dependent on RUSAL and its subsidiaries,” — said Mnuchin.

According to him, “RUSAL” has addressed in OFAC with the request for the exception to the SDN List, and for the period of consideration was issued license No. 14.

Shares of “RUSAL” on the afternoon of Monday jumped 15% after news that OFAC issued a license, according to which transactions with RUSAL must be completed before 23 October.

On the “Moscow stock exchange” shares of “RUSAL” to 15:02 in Moscow jumped to 26.39 rubles (+15%), trading volume for this hour exceeded 111 million rubles.

April sanctions

Earlier in April, the U.S. Treasury imposed new sanctions against Russia. The replenishment of the black list has become very hard since the start of sanctions policy. The U.S. Treasury stated that, after consultations with the state Department, the us administration imposed sanctions against seven Russian businessmen, 14 companies, 17 government officials of the Russian Federation.

In the SDN List, the hit which means freeze all assets and ban transactions in the US, the business was introduced, in particular, the Chairman of the Board “Gazprom” Alexey Miller, businessmen Viktor Vekselberg, Igor Rotenberg, Oleg Deripaska, Suleiman Kerimov, Andrei Skoch and Vladislav Reznik, the head of Gazprombank Andrey Akimov and head of VTB Andrey Kostin. The sanctions imposed to the General Director “Surgutneftegaz” Vladimir Bogdanov, Board member of “SIBUR” Kirill Shamalov.

As reported April 9, one day the richest Russian businessmen from the list of Forbes magazine has lost more than $12 billion.

Forbes notes that significant amounts — $1.6 billion, that is about a quarter of his fortune — lost Suleiman Kerimov. Also seriously injured Oleg Deripaska, under the sanction of USA came holding company En+, Rusal and US another six related to the businessman’s companies. Monday morning quotes manufacturer of aluminium on the Hong Kong stock exchange fell by more than 50%, and the state Deripaska declined by $1.6 billion (-29,7%). In third place for financial losses was a partner of Deripaska in Norilsk Nickel Vladimir Potanin, who lost $1.4 billion or 9.1% of his fortune.