The US Treasury department officially lifted sanctions against companies tied to Russian oligarch Oleg Deripaska.
The branch said in a press release that the Foreign Affairs Control Office raised sanctions on EN + Group Plc and EuroSibEnergo JSC, noting that each company has reduced Deripasa's "direct and indirect shareholding in these companies and foreclosed its control".
"This action ensures that the majority of the En + and Rusal directors will be independent directors – including US and Europeans – who have no business, professional or family ties to Deripaska or other SDN & # 39; and that independent US people vote a significant block of the shares in En +, "said the department.
"Companies have also agreed that the Ministry of Foreign Affairs' transparency is in their operation by implementing comprehensive, ongoing audit, certification and reporting requirements."
Deripaska, associated with Russian President Vladimir Putin, will personally remain under US sanctions.
The Trump administration announced in December that it would relax sanctions against companies associated with Deripaska. The decision led to the indignation of democratic legislators, with the Senate morality leader Charles Schumer (DN.Y.) Asks if the United States thinks "Putin and his cronies should go easy?" But the Senate Republicans were able to defeat the measure and prevent it from moving to a floor vote earlier this month.
The agreement reached by the Ministry of Finance with Deripaska included that he had cut his direct and indirect shareholding for each company below 50 percent.
But The New York Times reported last week that Deripaska and his allies are determined to keep the majority ownership energy company EN +.
Among other things, Deripaska will reportedly be free of debt, owed to a Russian state-owned bank as long as he transfers shares worth $ 800 million.
"Deripasa's control over these entities is separated by this delisting, and he can no longer use them to carry out illegal activities on behalf of the Kremlin," the Finance Ministry said in a statement to the Times. "One +, Rusal and ESE are committed to giving the Treasury an unprecedented degree of transparency in their business to ensure that Deripaska does not reinstate control."