situation report

Apr 27, 2018 | 16:26 GMT

1 min read

Russia: Oligarch Agrees to Cut Stake in Rusal to Free Company of U.S. Sanctions

In an effort to free the company from U.S. sanctions, Russian oligarch Oleg Deripaska has agreed to effectively relinquish control of Russian aluminum company Rusal by reducing his stake in its parent company, EN+ Group, to below 50 percent, Financial Times reported April 27. Rusal's shares have dropped by over 50 percent since U.S. sanctions were imposed April 16. As the United States intensifies sanctions against Russia, Moscow could respond with retaliatory measures. 

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