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US to lift sanctions on firms linked to Russian businessman Oleg Deripaska

Deripaska will remain under sanctions, the Treasury said. However, the three Deripaska companies - Rusal, En+ and power firm EuroSibEnergo - have agreed to restructure to reduce Deripaska's stakes

Polina Devitt & Nathan Layne | Reuters 

The U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal and its parent En+, watering down the toughest penalties imposed since Moscow's 2014 annexation of Crimea. In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing "malign activities" by Russia, prompting turmoil in global aluminium markets. After lobbying by European governments, Washington postponed enforcement of the sanctions and started talks with Deripaska's team ...

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First Published: Thu, December 20 2018. 08:12 IST