Economics

Trump Lifts Rusal, En+ Sanctions as Glencore Shuffles Stake

U.S. Treasury also removes restrictions on En+, EuroSibEnergo
Aluminum drops in London as curbs lifted, Rusal shares advance

What does the shift of tone on Rusal mean for aluminum? Bloomberg’s Martin Ritchie reports.(Source: Bloomberg)

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By Saleha Mohsin

January 27, 2019 at 9:15 PM UTC

Updated on

January 28, 2019 at 10:11 AM UTC

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The U.S. Treasury Department lifted sanctions on three firms tied to Russian tycoon Oleg Deripaska, including United Co. Rusal, a move that will provide relief to the global aluminum market. The metal fell in London.

Deripaska, an ally of Russian leader Vladimir Putin, will remain under U.S. sanctions, and his property will remain blocked. But the Treasury Department is removing restrictions on Rusal, En+ Group Plc and EuroSibEnergo JSC.