Quantcast
Connect with us

US lifts sanctions on Russian Oleg Deripaska’s aluminum company and others linked to him

Published

on

Oleg Deripaska (Flickr/Remy Steinegger)

U.S. President Donald Trump’s administration on Sunday lifted sanctions on aluminum giant Rusal (0486.HK) and other Russian firms linked to oligarch Oleg Deripaska, despite a Democratic-led push in the U.S. Congress to maintain the restrictions.

Earlier this month, 11 of Trump’s fellow Republicans in the U.S. Senate joined Democrats in a failed effort to keep the sanctions on Rusal, its parent, En+ Group Plc, and power firm JSC EuroSibEnergo. But that was not enough to overcome opposition from Trump and most of his fellow Republicans.

ADVERTISEMENT

Advocates for keeping the sanctions had argued that Deripaska, an ally of Russian President Vladimir Putin, retained too much control over the companies to lift sanctions imposed in April to punish Russia for actions including its annexation of Ukraine’s Crimea, efforts to interfere in U.S. elections and support for Syria’s government in its civil war.

Some lawmakers from both parties also said it was inappropriate to ease the sanctions while Special Counsel Robert Mueller investigates whether Trump’s 2016 presidential campaign colluded with Moscow.

But in its statement on Sunday, the U.S. Treasury Department said the three companies had reduced Deripaska’s direct and indirect shareholding stake and severed his control.

That action, it said, ensured that most directors on the En+ and Rusal boards would be independent directors, including Americans and Europeans, who had no business, professional or family ties to Deripaska or any other person designated for sanctions by the Treasury Department.

“The companies have also agreed to unprecedented transparency for Treasury into their operations by undertaking extensive, ongoing auditing, certification, and reporting requirements,” the department’s statement said.

ADVERTISEMENT

Deripaska himself remains subject to U.S. sanctions.

Trump administration officials, and many Republicans who opposed the effort to keep the sanctions in place, said they worried about the impact on the global aluminum industry. They also said Deripaska’s decision to lower his stakes in the companies so that he no longer controlled them showed that the sanctions had worked.

Rusal is the world’s largest aluminum producer outside China. The sanctions on the company spurred demand for Chinese metal. China’s aluminum exports jumped to a record high in 2018.

ADVERTISEMENT

Trump denies collusion, and Moscow has denied seeking to influence the U.S. election on Trump’s behalf, despite U.S. intelligence agencies’ finding that it did so.

Deripaska had ties with Paul Manafort, Trump’s former campaign manager. Manafort pleaded guilty in September 2018 to attempted witness tampering and conspiring against the United States.

ADVERTISEMENT

Reporting by Patricia Zengerle; Editing by Peter Cooney


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Someone created a tile mosaic panel to rename the 50th Street Subway station in NYC after Ruth Bader Ginsburg

Published

on

There continue to be amazing acts of love and honor of Justice Ruth Bader Ginsburg across the world and another one has popped up in New York City.

ABC7 discovered that someone created a tile mosaic at the 50th Street subway station so it says RUth Street instead.

https://twitter.com/ABC7NY/status/1307715043220430853

Flowers, cards, chalk messages signs and more continue to be left at the Supreme Court for a massive memorial that has started curving around the building. After the first night where mourners sat on the steps and sang, security blocked off the steps and the memorial began to grow with hundreds of things being left.

Continue Reading

Breaking Banner

Canadian woman behind the poison sent to Trump

Published

on

A letter was intercepted containing the poison ricin when it was on the way to President Donald Trump. Now some facts about the person who sent it are being known.

CNN.com reported Sunday that it was a woman from Canada who was also trying to cross into New York state from Canada, law enforcement explained.

She was also carrying a gun and was arrested by law enforcement. She's expected to face charges in Washington, DC, the report said.

Trump's approval globally has dropped significantly over his term in office, and he's taken the opinion of the U.S. along with him.

Continue Reading
 

Breaking Banner

These global banks defy sanctions and send trillions to terrorists and criminals — and the Justice Department lets them

Published

on

The International Consortium of Investigative Journalists revealed in a shocking expose that international banks are skirting U.S. sanctions and allowing trillions of dollars to flow to terrorists, criminals and oligarchs.

In a Sunday report, the ICIJ called out JPMorgan Chase, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon for refusing to comply with American sanctions, U.S. government documents reveal.

Other banks have even defied money laundering crackdowns, the report said and allowed "staggering sums of illicit cash" to flow from shady characters and criminal networks.

Continue Reading
 
 
You need honest news coverage.  Help us deliver it.  Join Raw Story Investigates for $1. Go ad-free. LEARN MORE