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Treasury lifts sanctions on Rusal, En+, ESE

Jaclyn Jaeger | January 29, 2019

The U.S. Department of Treasury announced that it has lifted sanctions on three companies controlled by Russian oligarch Oleg Deripaska. The delisted companies are Russian power company EuroSibEnergo (ESE); aluminum producer UC Rusal; and Rusal’s parent company, En+ Group.

The Treasury Department’s Office of Foreign Assets Control (OFAC) imposed the sanctions in April 2018. At that time, OFAC said Deripaska “has said that he does not separate himself from the Russian state,” and that “Deripaska has been investigated for money laundering and has been accused of threatening the lives of business rivals, illegally wiretapping a government official, and taking part in extortion and racketeering.” It’s also believed that Deripaska “bribed a government official, ordered the murder of a businessman, and had links to...

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