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Europe Backs Mnuchin's Bid to Lift Sanctions on Deripaska Firms

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  • U.K., France, Germany and EU ambassadors write to Schumer
  • Key lawmaker seeks 28-day extension to weigh blocking move
Steven Mnuchin
Steven Mnuchin Photographer: Andrew Harrer/Bloomberg

The European Union backed Treasury Secretary Steven Mnuchin’s plan to lift U.S. sanctions on two companies tied to Russian tycoon Oleg Deripaska, as he faces a backlash from Democratic lawmakers suspicious of the Trump administration’s motives.

Democrats are concerned that the administration is easing up pressure on Deripaska, an ally of Vladimir Putin, from sanctions intended to punish the Russian leader for interfering in the 2016 presidential election. Democrat Richard Neal, who heads the House Ways & Means Committee, wrote to Mnuchin Thursday requesting a 28-day extension of a deadline for Congress to consider blocking the de-listing.