Oleg Deripaska decided to maintain control over Rusal

Oleg Deripaska plans to keep control of Rusal even if the company has to fight to survive under sanctions imposed by the US Treasury. , citing unnamed sources . This was reported by Bloomberg

Details

• As writes the edition, Deripaska hopes for lobbying of mitigation of sanctions from the European authorities.
• In recent days, he has made several changes in the top management of the company to focus on sanctions and plans to personally monitor what is happening.
• A day earlier, Deripaska's plans to keep his assets were reported by Reuters. The agency cited one source in the Russian Ministry of Finance.
• The Kremlin is also unlikely to like a scenario in which Washington tells it who should own what in Russia, a told Reuters. Deripaska acquaintance

Context

• After the US sanctions imposed on April 6, Rusal's exports fell by 25%, and the company's shares updated historical lows day after day.
• The situation changed last Monday, when the American regulator granted a delay to the partners of the Russian company, giving time to break off relations with Rusal until October. In addition, Washington announced the possibility of lifting sanctions from the company if Oleg Deripaska renounces control over it. On the news about the easing of restrictions, Rusal's shares began to grow again.

What do I get from this?

Deripaska's unwillingness to give up control of the company threatens to turn into a confrontation between Rusal and the United States. However, it is quite possible that it will do more harm to Europe than to Russia. At least that's what Rob van Giles, CEO of Hammerer Aluminum Industries GmbH, thinks.

Margarita Kudryavtseva