US Treasury Department announced that it lifts sanctions on Russian firms Rusal, En+ and Eurosibenergo, noting however that the sanctions against Russian businessman Oleg Deripaska remain in place.
"The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today lifted sanctions imposed on… En+,… Rusal, and… EuroSibEnergo… following an earlier notification submitted to Congress on December 19, 2018… All sanctions on Deripaska continue in force," the press release read.
READ MORE: Aluminum Giant Rusal Almost Doubles Net Profit to $1.54Bln in Nine Months
The Treasury later revealed its plans to abandon the sanctions, citing the companies' readiness to undergo structural changes to reduce ownership of Deripaska, who was targeted by US sanctions. The businessman himself and his assets were to remain under the restrictions.
