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Temporary nationalization of Deripaska’s stake in Rusal not ruled out — watchdog

April 25, 19:34 UTC+3

The United States introduced sanctions against the Russian aluminum producer Rusal and its co-owner Oleg Deripaska on April 6

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YALTA, April 25. /TASS/. A stake held by Russian businessman Oleg Deripaska in the national aluminum giant Rusal can be nationalized for the purpose of protecting the company from sanctions, head of the Federal Antimonopoly Service (FAS) of Russia Igor Artemyev told reporters on Wednesday.

"If it [Deripaska’s stake in Rusal - TASS] is purchased by the government, then formally these sanctions applied and doing harm to aluminum export and others matters are to be lifted in theory," the official said. "However, it is clear the government will be the owner for a short period of time; other people will probably appear there after that," Artemyev said.

It is important that Deripaska should get a fair price for his sake if such a deal takes place, he added.

The United States introduced sanctions against the Russian aluminum producer Rusal and its co-owner Oleg Deripaska on April 6, which led to a decline in company’s stock prices and prompted Rusal counterparties to reconsider contracts.

The US authorities said this Monday that sanctions against Rusal could be potentially softened in case Deripaska relinquishes control over the company.

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