U.S. ready to lift sanctions against RUSAL

On Friday Steven Mnuchin, US Treasury Secretary, made a statement saying that the United States is ready to strike the Russian aluminum giant from the list of sanctions, adding that America’s initially purpose was not to “withdraw “RUSAL” out of business”.

The company of billionaire Oleg Deripaska together with 8 other Russian companies, in which it acts as a shareholder, came under sanctions in April 2018. This caused chaos in the global market and began to interested players a reason to lobby for the easing of sanctions on RUSAL.

Mnuchin noted the importance of “RUSAL” for the world market of aluminium and stressed that the United States did not initially plan to withdraw from the game company. Deripaska and his top managers left the Board of Directors of “RUSAL” in may: currently, the company is considering ways to minimize his control over the company. The aluminum giant has elected a new Board of Directors.

“Representatives of the company came to us [in the Treasury] to withdraw [her] list,” said Mnuchin in an interview with Reuters before the meeting of the G20 in Argentina. According to the Minister of the Treasury, the Treasury is willing to find an acceptable solution to this issue.