Skip to content
Subscriber Only

Mnuchin Says U.S. Isn't Looking to Put Rusal Out of Business

  • Says Deripaska must reduce ownership stake under 50 percent
  • Negotiations with company “encouraging” Treasury chief says
Video player cover image
Mnuchin Says U.S. Doesn't Want to Put Rusal Out of Business
Updated on

The U.S. isn’t seeking to put Russian aluminum giant United Co. Rusal out of business by sanctioning the company, Treasury Secretary Steven Mnuchin said, but its majority owner Oleg Deripaska must reduce his stake to less than 50 percent.

“The first aspect would be that he sells down below 50 percent,” Mnuchin told Bloomberg TV in an interview on Monday in Los Angeles, calling discussions with the company about avoiding U.S. sanctions “encouraging.”