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Ukraine has published the expanded list of sanctions against Russian Federation
25 May 2018, 12:29 | Melissa Porter
Russian Billionaires Plan to Party Without Rusal CEO Deripaska
On May 24, Russian aluminium manufacturer Rusal announced its CEO and seven members of its board of directors would step down. The US will consider lifting the sanctions if Deripaska relinquishes control of his companies.
"As at the date of this announcement, the company has not received any formal resignation from Mr Deripaska", it added.
In a "frequently asked questions" list on its website, the Treasury said funds would remain blocked by US sanctions if they were not being directed to maintenance or wind down activities.
At the end of May, Deripaska's firms En+, Rusal and carmaker GAZ were removed from the USA sanctions list while the businessman remained subject to the measures.
On April 23, the US Treasury said it would consider lifting sanctions on Rusal if Deripaska ceded control, while extending the deadline for companies to exit dealings with Rusal by nearly five months, to October 23 this year.
Rusal is the parent company of Aughinish Alumina in Co Limerick.
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