Advertisement

Russian billionaire quits Rusal board

Russian billionaire Oleg Deripaska has quit the board of  Rusal in a bid to free the company from crippling US sanctions.
 
Rusal is the operator of  the Windalco alumina refinery in Jamaica.
 
Mr Deripaska had agreed to cede control to help the company escape sanctions imposed by the Donald Trump administration that severely limit its ability to do business.
 
He resigned as president of Rusal earlier this year but  remained on the board as a non-executive director.
 
Rusal's parent company-- EN Plus-- on Saturday voted to accept Mr Deripaska's resignation from the board and to back a new rescue plan.
 
Mr Deripaska's departure is expected to be the start of  sweeping changes to come.
 
The US drafted the latest round of sanctions in response to what it said were Russia's malign activities.


comments powered by Disqus
More Stories
Most Popular
American boy drowns at Bahia Principe Hotel