The Trump administration plans to lift sanctions on companies owned by Russian oligarch Oleg Deripaska after he significantly reduced his ownership stake in them.
The Treasury Department announced Wednesday that it would lift financial sanctions on Deripaska’s aluminum company, United Co. Rusal, as well as En+ Group plc and JSC EuroSibEnergo in 30 days, after Deripaska agreed to reduce his ownership stake in each of the companies to below 50 percent.
Deripaska, a billionaire aluminum magnate with close ties to Russian President Vladimir Putin, will remain sanctioned and his property blocked.
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The sanctions will be lifted in 30 days, according to Treasury, but Congress could still block the move.
In a joint statement later Wednesday, the leaders of the Senate Intelligence Committee noted that the agreement between Treasury and Deripaska “does not change the fact that Mr. Deripaska, his employees, and his companies work at Vladimir Putin’s behest and operate as de facto representatives of the Russian government.”
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Trump admin to lift sanctions on firms owned by Russian oligarch with close ties to Putin https://t.co/sCRcy9TFYa pic.twitter.com/GK0EGPo4t5
— The Hill (@thehill) December 20, 2018
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