Date: 7 days ago   Category: Economy

The Ministry of Finance of the USA postponed entry into force of sanctions against En and RUSAL - RIA Novosti, 12.10.2018

U.S. Department of the Treasury. Archival photo
MOSCOW, 12 Oct — RIA Novosti. The Ministry of Finance of the USA prolonged terms for completion of operations with stocks, debt tools of RUSAL and En and also contracts in these companies till December 12, follows from the message of department of the Ministry of Finance of the USA on control of foreign assets (OFAC).© RIA Novosti Russia cannot intimidate by ultimatums, declared in МИДСрок for end of contracts and also operations with stocks and a debt of GAZ Group remained invariable — on October 23. "EN and RUSAL addressed to the U.S. Government with the offer to significantly change corporate management that can potentially lead to considerable changes in control of the companies. As consideration of these offers continues, OFAC extends the validity of the corresponding licenses till December 12" — the representative of department said. The USA at the beginning of April imposed new sanctions against the Russian Federation, in particular, blacklisted (SDN sheet) Oleg Deripaska and En Group controlled by it, GAZ Group, Basic Element and RUSAL. Addition in the list means blocking of assets to the USA and the ban on any business with these companies for the American citizens, including any operations with debt and share tools.© RIA Novosti / Alexander Astafyev to Pass into an image bank Medvedev condemned protectionist measures separate странМинфин the USA initially gave month on sale of shares both debt tools of these companies and two months on end of the existing contracts and the termination of interaction with the companies — restrictions had to come into force on May 7 and on June 5 respectively. Then these terms repeatedly lasted. In July En Group asked the Ministry of Finance of the USA to exclude temporarily it from the OFAC list (management of the Ministry of Finance on control of foreign assets) for realization of the final stage of "Barker's plan" for removal of sanctions from holding. So-called "Barker's plan" assumes decrease in a share of Deripaska in En lower than 50% and the termination of its influence on the board of directors in most of which will belong to independent directors. At the end of April of En reported that Deripaska is going to realize all these points. In May the businessman left the boards of directors of En and also RUSAL.



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