US open to lifting sanctions off aluminum giant Rusal

SAO PAULO: The US Treasury is open to removing Russian aluminium producer Rusal from a US sanctions list, Treasury Secretary Steven Mnuchin (pictured) said, adding the objective was “not to put Rusal out of business.” Mnuchin’s comment was the latest indication the Trump administration was trying to aid sanctions-hit Rusal, which has taken a series of steps to try to appease the US government and get the restrictions lifted. The US Treasury in April imposed sanctions against billionaire Oleg Deripaska and the eight companies in which he is a large shareholder, including Rusal, in response to what it called “malign activities” by Russia. But the sanctions caused havoc in the global aluminium market, prompting several countries and companies to successfully lobby Treasury for a softening of the terms on Rusal. — Reuters