ibusinesslines.com October 18, 2018

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

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.

Bouriko has been replaced as CEO for the time being by Evgeny Nikitin, the head of Rusal's aluminum business, the company said in a statement.

They are Vladislav Soloviev, Siegfried Wolf, Maxim Sokov, Dmitry Afanasyev, Gulzhan Moldazhanova, Olga Mashkovskaya and Ekaterina Nikitina. None of them have offered themselves for re-election at the company's annual meeting on June 28, when their tenures end.

Rusal is trying to secure its survival by convincing the US Treasury to roll back its penalties under a proposal that would reduce the influcence of Russian oligarch Oleg Deripaska at the´╗┐ firm.

Entities on the SDN list are not able to trade in United States dollars or with U.S. citizens or banks, which makes business extremely hard for any multinational corporation.

"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.

Other News

Trending Now

Bjorn names Donald, Harrington, McDowell, Westwood vice-captains
McDowell: "I think my experience at Paris National, the four Ryder Cups I've played, have been the greatest moments of my career". B ut, when I look at my list of 25, 30 players, it's hard to say that Europe is not in a very good place.

Everything you need to know about Battlefield V
They will tell these stories through the return of War Stories, sort of mini-campaigns take you on a journey through World War II. If you're a member of either EA Access or Origin Access, you can jump into the Play First Trial for the game on October 11.

Comcast preparing to top Disney's bid for Fox
Although the Fox and Disney deal has been widely expected to close next summer, Comcast still wants to play the spoiler. Experts say the firm would be unlikely to proceed with an offer for Fox until a judge rules on that case in June.

Kelly sued for sexual battery, false imprisonment
Kelly's support, and it has rushed to judgment without the facts. "I love you because you remind me of them'". "Not at all... Kelly refused to take the bait, however, telling her: "I don't never talk about nothing, to nobody on the phone".

Kushner Receives Permanent Security Clearance
Abbe Lowell , an attorney for Kushner, confirmed his client had now completed the security clearance process. He said Kushner has met with Mueller's investigators twice for many hours.

San Antonio tops national list in population gain; Houston growth is sluggish
For the first time, Redmond reached more than 30,000 residents and Prineville hit more than 10,000, the census data showed. While the Northeast grew more slowly than the rest of the country, all of the New England states grew faster than CT .

Stunning Aerial Footage Shows Overnight Eruption at Kilauea Volcano
He said doctors had to pick sharp, hardened fragments of lava out of the wound, but the prognosis is good for his friend. "That's why having lava flow across the well causes some uncertainties that have to be dealt with", he said.