The Wall Street Journal: Aluminum giant Rusal may avoid sanctions as U.S. amends blacklist

The Trump administration on Tuesday amended its Russia sanctions program, paving the way for aluminum giant Rusal to escape from the blacklist and granting the metals market a reprieve from a supply scare that rocked markets over the last month.

Facing delisting from the London Stock Exchange this week, Rusal’s owner, EN+ Group , sought the 11th-hour amnesty from the U.S. Treasury late last week by pledging that its majority shareholder and a primary target of the U.S. sanctions, Russian tycoon Oleg Deripaska, would reduce his holdings and relinquish his board seat.

On Tuesday evening, the Treasury granted EN+ Group and several other companies an extension for compliance with the sanctions, buying Rusal’s owner time to implement the company’s proposed divestment plan.

>>> Original Source <<<