Russian aluminium giant Rusal said today that Oleg Deripaska has resigned his seat on the board, a key step in the company's efforts to escape US sanctions targeting its founder and key shareholder.
"Mr Oleg Deripaska, non-executive director of the company, has tendered his resignation as a director of the company with effect from 25 May 2018," Rusal said.
In a statement it said the resignation was in line with "the efforts that have been made by the management of the group to protect the interests of the company and its shareholders since the OFAC sanctions were imposed."
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