The Trump administration plans to lift sanctions on companies owned by Russian oligarch Oleg Deripaska after he significantly reduced his ownership stake in them.
The Treasury Department announced Wednesday that it would lift financial sanctions on Deripaska’s aluminum company, United Co. Rusal, as well as En+ Group plc and JSC EuroSibEnergo in 30 days after Deripaska agreed to reduce his ownership in the each of the companies to below 50 percent.
Deripaska, a billionaire aluminum magnate with close ties to Russian President Vladimir Putin, will remain sanctioned and his property blocked.
“Treasury sanctioned these companies because of their ownership and control by sanctioned Russian oligarch Oleg Deripaska, not for the conduct of the companies themselves,” Treasury
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