WASHINGTON (Reuters) - A U.S. Treasury spokesperson said on Friday changes in ownership of Rusal do not guarantee the end of sanctions for the Russian metals giant, as major shareholder Oleg Deripaska makes efforts to distance himself from the company.
“A reduction in the percentage of ownership by a sanctioned individual is not necessarily in and of itself a basis for de-listing,” a Treasury spokesperson told Reuters.
Rusal will overhaul its board and management in hopes of persuading the United States to lift sanctions, sources close to the company said.
Treasury “conducts a thorough review of the facts and circumstances of each removal request in every individual case, and does not publicly speculate on specific outcomes or scenarios,” the spokesperson added.
Reporting by Chris Sanders and Mary Milliken; Editing by David Gregorio