MOSCOW, April 28. /TASS/. The option of Rusal’s nationalization due to the company’s hurdles amid US sanctions is not under consideration, the Kremlin spokesman Dmitry Peskov said Saturday, adding that Rusal’s owners have not voiced any related proposals.
"No, the option is not under consideration. The cabinet of ministers is tackling issues related to rescue of companies facing illegal restrictions imposed by a number of countries, including the US, at President’s request. No decisions have been made, various options are under consideration," Peskov said. "As far as nationalization is concerned, we have not heard owners and main shareholders voicing wishes to take the nationalization path, whereas in this particular case one should focus not only on the state, but also on owners themselves," he said, adding that "in this regard no signals have been received."
On April 6, the US Treasury slapped sanctions against Russian officials, businessmen and companies. Among them were several enterprises belonging to Rusal’s co-owner Oleg Deripaska, including Agroholding Kuban, Eurosibenergo, Rusal, Russian Machines Holding and GAZ Group, B-Finance investment company, Basic Element, and En+. Later the US said that sanctions relief can be provided for Rusal if Deripaska makes divestment and relinquishes control over the company.
On April 27, it was reported that Deripaska had agreed to reduce his shareholding in En+ Group to below 50% and step down from the board of directors. However, the US Treasury said later that the reduction of Deripaska’s share in the company would not necessarily mean that sanctions against Rusal would be lifted.