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Oleg Deripaska refuses to be nominated to Norilsk Nickel Board of Directors

April 12, 9:59 UTC+3

Now the Board of Directors of Norilsk Nickel will have to nominate a new candidate

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© Sergei Savostyanov/TASS

MOSCOW, April 12. /TASS/. Oleg Deripaska refused to be nominated to the Board of Directors of Norilsk Nickel, a company representative told reporters.

"Oleg Deripaska refused to be nominated to the Board of Directors of Norilsk Nickel, he officially denied nomination," he said.

Only Deripaska refused a nomination, the rest of the candidates from Rusal remained unchanged, the company explained.

Now the Board of Directors of Norilsk Nickel will have to nominate a new candidate for voting at the annual general meeting of shareholders instead of Deripaska. The nearest meetings of the Board is scheduled for April 12 and April 16, although there is no mention of nominating new candidates on their agenda, the company told TASS.

Deripaska was nominated for Norilsk Nickel Board of Directors on April 5, and on April 6, the US Treasury included him and eight related companies in the new sanctions list, which prohibits US citizens and legal entities from doing business with these assets.

At the same time, the list of companies includes several structures related to Oleg Diripaska - agroholding Kuban, Eurosibenergo, Rusal, Russian Machines and GAZ Group, investment company B-Finance, holdings Basic Element and En+. In addition, Vekselberg's Renova group, Shamalov's Ladoga Management, Russian Financial Corporation (owned by Rosoboronexport, also on the list), NPV Engineering and Arkady Rotenberg’s Gazprom Bureniye were included in the list.

The list also includes Gazprom CEO Alexey Miller, VTB CEO Andrey Kostin, owner of Renova Viktor Vekselberg, President of Surgutneftegaz Vladimir Bogdanov, Member of Sibur Board of Directors Kirill Shamalov, businessmen Igor Rotenberg and Suleiman Kerimov.

Shares of Russian companies, sovereign bonds and the ruble fell on Monday, reacting to US sanctions. In particular, the ruble-denominated MOEX Russia Index (previously MICEX) decline reached 9.5%, while the dollar-denominated RTS fell by 11.9%.

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