As the press service of the us Treasury Department,the company was excluded from the sanctions list a day before their entry into force in full.
“Control OFAC of the U.S. Treasury terminated the sanctions imposed on companies En+ Group plc, “Rusal” and ESE, in accordance with the notification submitted to Congress on December 19, 2018″, – the press-service.
The Office for foreign assets control of the U.S. Treasury said that the decision is dictated by the fact that these companies have reduced the proportion of direct and indirect ownership of Russian billionaire Oleg Deripaska, who is under us sanctions.
“All three companies severely restricted the control of Mr. Deripaska. This ensures that the majority of Directors on the boards of En+ and RUSAL will be independent persons having no business, professional or family links with Deripaska and other legal or natural persons on the sanctions lists of the USA” the document reads, specifying that the head companies can now get the American and European experts.
So, we already know that was on the island of Jersey shareholder of several companies in the aluminum industry, En+ Group with headquarters in Moscow, will conduct the formation of a new Board of Directors in which the number of independent Directors will be eight people (available 12). Moreover, six of them will be citizens of the US or the UK.
As for the sanctions against the Russian businessman Oleg Deripaska, they continue to remain in force, said OFAC.