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Rusal welcomes US Treasury’s decision to terminate sanctions against company

On Wednesday, OFAC submitted a notification to the Congress of its intention to terminate sanctions against En+, Rusal, and EuroSibEnergo related to the Russian businessman Oleg Deripaska in 30 days

MOSCOW, December 20. /TASS/. Rusal welcomes the decision of the US Treasury to terminate sanctions against the company and will continue doing its utmost to return to normal work, Russia’s aluminum producer said in a statement on Thursday.

"We welcome the decision of OFAC (the Office of Foreign Assets Control of the US Treasury Department in charge of law enforcement related to sanctions) and continue the work required for returning the company to normal operations," the statement said.

On Wednesday, OFAC submitted a notification to the Congress of its intention to terminate sanctions against En+, Rusal, and EuroSibEnergo related to the Russian businessman Oleg Deripaska in 30 days as he agreed to reduce control in En+ to 44.95%. Meanwhile, Deripaska himself will remain blacklisted, while his assets would be frozen.

Rusal also has given notice to investors of the lack of guarantees that sanctions would be lifted, and recommended being cautious when dealing with the company’s securities.