“RUSAL” will completely change the Board of Directors because of the sanctions

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"Русал" полностью поменяет совет директоров из-за санкций

UC Rusal plans to completely change the entire composition of the Board of Directors. The company hopes that this measure will help to soften the attitude of the USA and, in particular, is to be removed from the sanctions list.

The change of the Board of Directors will lead to the formation of the new staff of managers of the campaign. Thus the management will be independent from the owners, which will hopefully in RUSAL, to talk about lifting the sanctions regime, writes RBC with reference to Reuters data. “Rusal is in contact [on this issue] with U.S. authorities and hoped that these measures will be sufficient to remove a company from the sanctions list”, — quotes the edition a source in the company.

Another measure is the negotiation of the package of shares owned by Oleg Deripaska, the “black list” of the USA. The company hopes to convince Americans that he is not playing as significant a role as that, it would seem. “[Owned by Deripaska] 48% [of the shares] is not a controlling package of securities 50%, which, under American law, might be the reason for the sanctions,” says a source.

Earlier it was reported that Deripaska plans to retain control over the company, “even if the aluminum giant will have to fight for survival,” reminiscent of the TV channel RT. However, he expects the United States and European countries will still have to go to the easing of restrictions, though, because of the sanctions and the suffering of their enterprise. In particular, at the present time, the European aluminum producers, the question arises, where to get alumina, which they had bought in Russia.

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