Potential resolution in sight as Treasury extends deadline for Deripaska to sell stake

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Russian billionaire Oleg Deripaska, who heads aluminium producer Rusal

The Treasury Department on Friday granted another month-long extension to let the world’s second-largest aluminum producer continue to operate, suggesting a deal may soon be reached for Russian billionaire Oleg Deripaska to relinquish control of the company.

Earlier this year, the U.S. Treasury imposed sanctions against Deripaska and eight companies which he holds a large share in, including EN+, which is tied to United Co. Rusal, the world’s second largest aluminum producer.

The activities that the Treasury cited as the reason for imposing sanctions against Russian enterprises include Russian government’s occupation of Crimea and supplying the Assad regime with weapons used to attack their own civilians.

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