Impaired vocabulary

The group of metallurgical companies Rusal Oligarch Oleg Deripaski warned of the risk of technical default due to US sanctions against a businessman. The message about this is placed on the website of the Hong Kong Stock Exchange.

The group’s statement says that American sanctions "can lead to technical defaults in connection with certain credit obligations." Also, Rusal said that they may not publish a financial report for 2017 on time.

According to initial estimates, US sanctions "can have a very unfavorable effect on the business and prospects of the group of companies, Rusal notes.

At the same time, the structure of Deripaska continues to fulfill all financial and credit obligations, the statement emphasizes.

After the publication of a message about the technical default, the cost of Rusal shares on the Hong Kong Exchange fell by 49 percent, Vedomosti reports . The capitalization of a group of companies decreased by five billion dollars.

According to Interfax, on Monday on the Moscow Exchange, at the opening of trading, Rusala shares fell by 46.9 percent, the paper of the Deripaska group EN+ lost 22.8 percent. The exchange introduced a discrete auction for Rusala shares.

On the London exchange of valuable metals (LSE), EN+ shares on Monday lost 9.8 percent of the cost, reports Reuters. The exchange is in contact with the British authorities regarding the sharp cheap of securities of Deripaska’s structure, according to the LSE website.

On Monday, due to American sanctions, the Board of Directors EN+ left Dominic FRES, Director for working with companies of the French Bank NATIXIS.

Deripaska was in a list of 20 Russians, against which the American Ministry of Finance imposed sanctions on April 6 in connection with the 2016 presidential election intervention. After introducing restrictions, the value of the oligarch assets fell sharply. The shares of the EN+ Group Group of Companies, which is part of the Deripaska Holding Basic Element, fell into 20 percent on the Moscow and London stock exchanges - the total cost of the structure of the structure decreased by more than $ 1.8 billion to 6.9 billion. On the Moscow Exchange, Rusal lost more than 56 billion rubles of capitalization (approximately $ 1.15 billion).

On April 6, the head of the Corruption Fund Alexei Navalny said that as part of the sanctions against Deripaska, the oligarch mansion in Washington was arrested for $ 15 million. The fact that Deripaska owns this house, The Washington Post wrote in November 2017.