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Anti-Russian sanctions

EU’s sanctions against Deripaska will not influence operations of En+ Group, Rusal

The Russian businessman ceased the majority ownership and control of the group as part of the agreement with the US Office of Foreign Assets Control in 2019, the statement reads

MOSCOW, April 11. /TASS/. Putting the founder of En+ Group and Rusal Oleg Deripaska on the European Union’s sanctions list will not influence the work of both companies as Deripaska has not been the majority shareholder since 2019, En+ Group said in a statement on Monday.

"After the announcements made by the European Council, En+ and Rusal confirm that the mentioned announcements do not influence the group or its subsidiaries, they are sanctioned in no place in the world. Mr. Deripaska ceased the majority ownership and control of the group as part of the agreement with the US Office of Foreign Assets Control (OFAC) in 2019. The stable corporate management and changes in the ownership structure, which occurred due to that meaningful agreement, remain in force and continue having effect," the company said.

The European Union passed another package of restrictions against 217 Russian businessmen, journalists, politicians and others on April 8. Apart from Deripaska, the list includes Herman Gref, Said Kerimov, Director General of Surgutneftegas Vladimir Bogdanov, Deputy Chairman of Sibur Kirill Shamalov and more.

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Sanctions vs. Russia RUSAL

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