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Rusal shares up 15% on Moscow Exchange amid potential US sanctions relief

April 24, 11:08 UTC+3 MOSCOW

As reported earlier sanctions relief can be provided for Rusal if its co-owner Oleg Deripaska makes divestment and relinquishes control over the company

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MOSCOW, April 24. /TASS/. Shares of Russia’s aluminum giant Rusal surged 14.8% to 31 rubles per share on the Moscow Exchange on Tuesday following the US Treasury Department’s statement on a potential sanctions relief.

As reported earlier sanctions relief can be provided for Rusal if its co-owner Oleg Deripaska makes divestment and relinquishes control over the company.

The Office of Foreign Assets Control (OFAC) of the US Treasury extended the deadline for ending transactions with the Russian aluminum producer Rusal until October 23, 2018, the OFAC said.

On April 6, the US Treasury slapped sanctions against Oleg Deripaska, as well as Gazprom CEO Alexei Miller, VTB head Andrei Kostin, owner of Renova Viktor Vekselberg, Surgutneftegaz CEO Vladimir Bogdanov, Sibur board member Kirill Shamalov, businessmen Igor Rotenberg, and Suleiman Kerimov. According to an explanatory note attached to the new US restrictions list, American authorities ordered US investors to get rid of shares of sanctioned Russian companies by May 7, 2018.

Among the companies slapped with the latest sanctions are several enterprises belonging to Oleg Deripaska, including Agroholding Kuban, Eurosibenergo, Rusal, Russian Machines Holding and GAZ Group, B-Finance investment company, Basic Element, and En+.

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