Deripaska’s Rusal Role Flagged for U.S. Sanctions Review
European officials have provided information to the U.S. government indicating that Russian billionaire Oleg Deripaska continued to exert control this year over United Co. Rusal International PJSC, which the officials say was a breach of a U.S. sanctions agreement reached in 2018.
An assessment sent to U.S. officials earlier this year concluded that Deripaska retained significant day-to-day influence over Rusal, one of the world’s largest aluminum producers, and its parent, EN+ Group International PJSC, according to the officials. He used company resources and employees to support his personal business interests and the political agenda of the Kremlin around the world, they said.
Such activities could run afoul of an agreement reached in late 2018 between the U.S. and EN+, Rusal and another company founded by Deripaska. The deal called for the oligarch, who is under personal U.S. sanctions, to reduce his ownership and relinquish control of those operations as a condition for the U.S. lifting sanctions against the companies.