The US Department of the Treasury officially lifted sanctions on Sunday for transactions tied to Russian oligarch Oleg Deripaska.
In a press release, the department stated that the Foreign Assets Office has lifted the sanctions against EN + Group Plc and EuroSibEnergo JSC that each company has reduced Deripaska's "direct and indirect involvement in and control of these companies".
"This action will ensure that the majority of directors on the En + and Rusal Board will be independent directors – including US and European individuals – who have no business, professional or family ties to Deripaska or any other SDN and To the independent USA, persons have voted a major block of En +'s stock, "said the department.
"Companies have also agreed to provide unprecedented transparency to Treasury by meeting extensive ongoing audit, certification and reporting requirements."
Deripaska, who is affiliated with Russian President Vladimir Putin, remains personally under US sanctions.
The Trump administration announced in December to ease sanctions on Deripaska-related companies. The decision led to outrage by Democratic legislators with the minority leader of the Senate Charles Schumer (DN.Y.) Ask if the US believes it is "easy for Putin and his cronies." should be?"
Democrats in Congress tried to block the movement, but the Senate Republicans were able to block the move and prevent it from voting ground earlier this month.
Deripaska's agreement with Deripaska included reducing its direct and indirect shareholdings to less than 50 percent for each company.
But the New York Times reported last week that Deripaska and its allies will retain a controlling interest in energy company EN +.
among other things, to be exempted from debt that he owes a Russian state-owned bank, as long as he transfers to him shares worth about 800 million dollars.
"Deripaska's control over these entities is separated by this delisting, and he can no longer for illegal activities on behalf of the Kremlin, "said the Ministry of Finance in a statement to the Times. "En +, Rusal and ESE are committed to providing the Treasury with unprecedented levels of transparency to ensure that Deripaska does not restore control."