UPDATE: RUSAL’s shares rise 11% as US can repeal sanctions

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MOSCOW, Jul 23 (PRIME) -- The shares of Russian aluminum giant RUSAL soared 10.84% on the Moscow Exchange as of 10:11 a.m., Moscow time on Monday on the news that the U.S. expects to find an acceptable solution to remove sanctions against the company.

“I’m not going to go into the exact specifics of what those proposals are and where we stand on them, but, yes, if we can find an acceptable solution, that is our objective,” Mnuchin said.

The U.S. Treasury imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including RUSAL in April, in response to what it called “malign activities” by Russia.

The price of global depositary receipts (GDR) of Deripaska’s En+ rose 8.04% on the Moscow Exchange.

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