The US Treasury Department lifted the sanctions imposed earlier on the Russian company RUSAL, En+ holding and EuroSibEnergo on Sunday. This is stated in the statement of the financial Department.
“The office of foreign assets control of the US Treasury (OFAC) today lifted sanctions imposed against En+ Group plc (En+), Rusal and EuroSibEnergo (ESE), after an earlier notification submitted to Congress on December 19, 2018,” the document says.
The Agency emphasizes that “in accordance with the conditions of exclusion” from the sanctions list of the company” reduced the share of direct and indirect ownership of Oleg Deripaska and severely limited his control” over them. As noted in the statement, their decision “ensures that the majority of Directors on the boards of En+ and Rusal will be independent — including American and European persons — who do not have business, professional or family ties with Deripaska “or any other legal entities or individuals on the US sanctions lists.
In addition, the Ministry stressed that “all sanctions imposed on Deripaska continue to remain in force.”
Rusal has got under the American sanctions on April 6 last year, along with other Russian companies, including those associated with Oleg Deripaska, the holding Basic element, En+, Russian machines, “GAZ Group”, “the EuroSibEnergo”, the investment company B-Finance and agricultural holding “Kuban”. Getting into the sanctions list involves freezing all assets in the United States and a ban on American citizens to conduct any business with these companies.