In response to the lifting of economic sanction on RUSAL and EN+ on January 27th, OFAC negotiated a divestiture deal with Oleg Deripaska shrinking his ownership stake and redistributing his voting rights to ensure he will not be able to establish indirect control while still subject to U.S. Sanctions. If successful, divestiture deals could be the next tool available to OFAC and the U.S. Government in addressing sanctions-related risk all over the world.
On January 16, a US Senate resolution to maintain US sanctions on the Russian aluminum giant RUSAL and its holding company EN+ failed to garner the necessary 60 votes to pass. As a result, the Trump administration lifted its economic sanctions on RUSAL and EN+ on January 27. Russian oligarch Oleg Deripaska, who previously controlled both RUSAL and EN+ via his majority stake in the latter, remains subject to US sanctions.