US to lift sanctions on En+, RUSAL & EuroSibEnergo in 30 days

Yesterday (19 December), the US Treasury notified Congress of its intention to terminate, in 30 days, the sanctions imposed on En+ Group, RUSAL, and JSC EuroSibEnergo. In return, those three entities have agreed to: undertake “significant restructuring and corporate governance changes”, including reducing Oleg Deripaska’s direct and indirect shareholding to below 50%; overhaul the composition of their boards of directors;...