Reflections

Russia's Business Leaders Prepare For U.S. Sanctions

Feb 21, 2018 | 21:32 GMT
Oleg Deripaska, CEO of Russian metals giant RUSAL, speaks during a press conference in Hong Kong on April 12, 2009.

Oleg Deripaska, CEO of Russian metals giant RUSAL, speaks during a press conference in Hong Kong on April 12, 2009.

(MIKE CLARKE/AFP/Getty Images)

As Washington increases pressure on the Russian elite, one of Russia's most wealthy oligarchs is stepping down from two of his most prominent positions in a likely bid to save his empire. On Feb. 23, metals tycoon Oleg Deripaska will officially leave his presidential posts at RUSAL, the world's second largest aluminum firm, and En+ Group, a private Russian energy firm; Deripaska's representatives told Russian newspaper Kommersant that he will continue to hold controlling stakes in the two firms. By withdrawing from two of his most important posts, Deripaska is likely attempting to insulate his firms from coming U.S. sanctions, a move that other elites in the country may soon follow....

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