US Treasury Secretary confirms plans to lift RUSAL, En+ sanctions - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

US Treasury Secretary confirms plans to lift RUSAL, En+ sanctions

WASHINGTON, Jan 11 (PRIME) -- The U.S. Department of the Treasury insists on lifting sanctions from Russian aluminum giant UC RUSAL, multi-industry holding En+ Group, and EuroSibEnergo, Secretary Steven Mnuchin said following his meeting with U.S. Congress democrats on Friday.

(RUSAL, En+ Group and EuroSibEnergo) have committed to provide Treasury with an unprecedented level of transparency into their dealings to ensure that (Russian tycoon Oleg) Deripaska does not reassert control. As a result, these entities will no longer be designated for sanctions, he said.

Treasury will be vigilant in ensuring that En+ and RUSAL meet these commitments. If these companies fail to comply with the terms, they will face very real and swift consequences, including the reimposition of sanctions, he added.

Bloomberg said that Mnuchin said the authority may consider extending the timeline of lifting the sanctions.

News portal Politico quoted the House of Representatives Speaker Nancy Pelosi saying that this was one of the worst classified briefings from a U.S. President Donald Trumps administration official, as he barely testified and was wasting the time of members of Congress.

Well see, Pelosi replied when asked whether she would consider a resolution of disapproval to block the removal of sanctions, Politico said.

End

11.01.2019 08:52
 
 
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