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19:34, 29-Apr-2018
US Treasury: Rusal ownership changes do not guarantee sanctions de-listing
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Changes in ownership of Rusal do not guarantee the end of sanctions for the Russian metals giant, a US Treasury spokesperson was quoted as saying as major shareholder Oleg Deripaska makes efforts to distance himself from the company.
Rusal will overhaul its board and management in hopes of persuading the United States to lift the sanctions, sources close to the company have said.
But a Treasury spokesperson told Reuters on Friday, “A reduction in the percentage of ownership by a sanctioned individual is not necessarily in and of itself a basis for de-listing.”
Treasury “conducts a thorough review of the facts and circumstances of each removal request in every individual case, and does not publicly speculate on specific outcomes or scenarios,” the spokesperson added.
Source(s): Reuters