OFAC Lifts Sanctions on RUSAL

As of Sunday 27 January 2019, all sanctions on RUSAL by the U.S. government have been lifted.

We are pleased to report that the U.S. Senate did not block the U.S. Treasury Department’s plan to lift sanctions on companies owned by Russian oligarch Oleg Deripaska.

Under the terms of the removal from OFAC’s List of Specially Designated Nationals and Blocked Persons (“SDN List”), En+, RUSAL, and ESE have reduced Oleg Deripaska’s direct and indirect shareholding stake in these companies and severed his control.

OFAC will continue to enforce its sanctions on Deripaska, including by closely monitoring these companies’ compliance with the terms of their removal from OFAC’s List of Specially Designated Nationals and Blocked Persons (“SDN List”). OFAC reserves the right to relist RUSAL should it fail to comply with the agreement.

Please see OFAC’s official press release

 

 

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