US officially lifts sanctions on firms tied to Russian oligarch [View all]

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Source: The Hill

The U.S. Treasury Department on Sunday officially lifted sanctions on businesses tied to the Russian oligarch (and Putin pal) Oleg Deripaska.

Deripaska, who is connected to Russian President Vladimir Putin, will personally remain under U.S. sanctions.

Democrats in Congress attempted to block the move. But Senate Republicans were able to defeat the measure and prevent it from advancing to a floor vote earlier this month.

The New York Times reported last week that Deripaska and his allies are set to retain majority ownership the energy company EN+.

Among other things, Deripaska will also reportedly be freed from debt he owes to a Russian government-owned bank as long as he transfers shares worth roughly $800 million to it.

Read more: https://thehill.com/homenews/administration/427178-us-officially-lifts-sanctions-on-firms-tied-to-russian-oligarch