Deripaska’s Rusal share could be nationalized, trade minister said

Deripaska’s Rusal share could be nationalized, trade minister said
Denis Manturov

The minister admitted the scheme could be implemented.

Despite the fact that the issue has not been discussed yet, the state could actually redeem the Rusal share belonging to the oligarch, Interfax reporters learned from the Minister of Industry and Trade, Denis Manturov.

The documents of the US Treasury, submitted on Monday as an accompanying enclosure to the sanctions on Russian companies and entrepreneurs say that the US could remove the sanctions from Rusal on condition that Deripaska gives away some of the company's assets and no longer controls it.

The US financial department also stated that until October 23, 2018, all operations with Rusal should be stopped.

In April this year, the US Treasury imposed a new round of sanctions on Russia. This has been the most severe one ever since the sanctions started. This time, the list affected 7 Russian businessmen, 14 companies and 17 government employees. The decision to impose sanctions was taken after the US State Department had been consulted. Rusal was affected the most, since its shares collapsed immediately. Mikhail Shmakov, the head of the Federation of Independent Trade Unions of Russia, proposed to nationalize Rusal.

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