Office of Foreign Assets Control

U.S. Government Rescinds Sanctions On U.C. Rusal, En+ Group, And JSC EuroSibEnergo

U.S. Government Rescinds Sanctions On U.C. Rusal, En+ Group, And JSC EuroSibEnergo

The first business day back at work for the United States federal government saw the long-awaited lifting of sanctions from U.C. Rusal, En+ Group, and JSC EuroSibEnergo, bringing to a close the restrictions that crippled the firms since their imposition last April....

Events

U.S. Government Grants En+, Rusal Another Two Weeks Before Third-Party Sanctions Kick In

Acknowledging the progress En+ Group, U.C. Rusal, and GAZ Group has made in complying with United States government requirements for distancing itself from founder Oleg Deripaska, on Friday the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) granted another extension to the firms’ grace period without stricter sanctions. A press release posted […]

Source: Kremlin Prepares RUB10 Billion Purchase Of Aluminium From Rusal

In a bid to lend support to the sanctioned Russian Federation aluminium giant U.C. Rusal, the Russian government has plans in place to purchase up to 50 thousand metric tons of aluminium from the struggling firm. Per an unidentified source who spoke with Reuters, the Kremlin issued a decree on Monday setting aside RUB10 billion […]

U.S. Government Extends Rusal Sanction Reprieve To Early January

The Trump administration announced on Friday another month-long extension of a reprieve from sanctions for En+ Group, Rusal, and GAZ, noting the progress founder Oleg Deripaska is making toward divesting his interests in the firms. Per a press release from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the trio of […]

Yielding To U.S. Pressure, Oleg Deripaska Steps Down From En+ Group

Following through on promises made this summer to United States government regulators, U.C. Rusal’s parent company En+ Group announced on Friday that founder Oleg Deripaska has passed the company’s reins to a successor. In a brief press release issued on Friday, the company said that the move was made as part of a larger initiative, […]

Aughinish Alumina Warns Of Imminent Difficulties Due To OFAC Sanctions On Rusal

Top brass at Ireland’s Aughinish Alumina refinery warned last week that sanctions placed upon its parent company by the Trump administration are threatening the plant’s continued operations. Executives from Limerick Alumina Refining Ltd (LARL) noted in corporate filings that it has been on tenterhooks since April, when the U.S. Department of the Treasury’s Office of […]