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U.S. to Remove Russian Companies Tied to Oleg Deripaska From Sanctions List in 30 Days

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Thursday, 20 December, 2018, 11:35
U.S. to Remove Russian Companies Tied to Oleg Deripaska From Sanctions List in 30 Days

The U.S. Treasury Department told Congress on Wednesday it will remove sanctions imposed on three Russian companies tied to an oligarch.

The companies—aluminum giant United Co. Rusal PLC, its parent EN+ Group PLC and JSC EuroSibEnergo, a Russian energy company—were put on the U.S. sanctions list in April because of their ownership or control by Russian oligarch Oleg Deripaska.

Mr. Deripaska remains under sanctions, but the companies agreed to a sweeping deal centered on severing his ties with them that will result in their removal from the blacklist, the Treasury said.

The removals, expected to take place in 30 days, are based on a change in factual circumstances “in line with longstanding U.S. sanctions precedent” that “is not intended to significantly alter U.S. foreign policy,” the Treasury said in a letter to Congress.