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Oligarch Deripaska of Rusal Breaches Sanctions Pact; RUB sells off

RUSSIA

USD/RUB moves higher on headline:

  • DERIPASKA'S RUSAL ROLE SPURRED EUROPE SANCTIONS WARNING TO U.S.
  • Reports show Oleg Deripaska retained significant day-to-day influence over Rusal, one of the world's largest aluminum producers.
  • Goes against agreement to reduce the Oligarch's ownership and relinquish control of those operations as a condition for U.S. lifting sanctions against the companies.
  • US Treasury is tasked with changing sanctions policy and refused to comment at this juncture
  • Analyst says any review of the US's Russia sanctions could become politically contentious for President-elect Joe Biden and his nominee for Treasury secretary, Janet Yellen - bbg
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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