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Russian finance minister approves of Rusal management’s decision to leave company

That means that sanctions will be lifted soon, Anton Siluanov said

ST. PETERSBURG, May 24. /TASS/. First Deputy Prime Minister, Finance Minister Anton Siluanov approves of Rusal management’s decision to leave the company, he told reporters on the sidelines of the St. Petersburg International Economic Forum.

"That's good, that means that sanctions will be lifted soon," he commented on the news of the departure of Rusal's management.

According to him, it would be nice to see the American side’s sound approach to this issue. "First, more time, which is absolutely realistic, because you need to conduct corporate procedures. On the other hand, the actions of Rusal are in the spirit of decisions that must be made so that these companies function steadily," he said.

Siluanov also said that Rusal, which has fallen under US sanctions, will receive support in the form of market loans, not from the budget. "Support will be provided in the form of loans under general market conditions," he said.

Today, Rusal announced that the company’s top management, including CEO Alexandra Bouriko, resigned. Bouriko has tendered her resignation as the CEO with effect from 23 May 2018. Evgeny Nikitin has been appointed by the Board as the acting CEO for a period from 23 May 2018 until the Board appoints a new CEO.

At the same time, it was announced that since June 28 Vladislav Soloviev, Sigfrid Wolf, and also Maxim Sokov, Dmitry Afanasyev, Gulzhan Moldazhanova, Olga Mashkovskaya and Ekaterina Nikitina have left the company’s Board of Directors.