Last edited Wed May 2, 2018, 01:21 PM - Edit history (1)
United Company RUSAL is the world's second largest aluminium company by primary production output (as of 2016)
Was owned by Russia & Swiss commodity behemoth Glencore
Glencore Went public recently
Glencore's shares started trading on the Johannesburg Stock Exchange in November 2013.[10] The Qatar Investment Authority is its biggest shareholder.[11]
Hmmm, Qatar.
United Company RUSAL (Russian: ОК РУСАЛ, translit. OK RUSAL) is the world's second largest aluminium company by primary production output (as of 2016).[3][4] It was the largest until overtaken by China Hongqiao Group in 2015.[5][6]
Above are wikipedia links
So why this soft-on-Russia move by Mnuchin?
The U.S. Treasury suggested it may be open to compromise with Russian aluminum tycoon Oleg Deripaska by giving investors more time to divest from sanctioned companies.
The U.S. extended a deadline for investors to sell shares to June 6, making it less likely that Deripaska’s holding company En+ Group Plc will have to de-list from the London stock exchange. The previous deadline was May 7.
In an interview earlier this week, Treasury Secretary Steven Mnuchin said that the administration had no desire to put Rusal out of business and said discussions with the company were "encouraging." Deripaska has proposed resigning from the board of En+ and reducing his stake in a bid to end the threat posed to Rusal under sanctions.
Treasury targeted Deripaska as part of a sanctions package April 6 that hit Russian tycoons, companies and key allies of Russian President Vladimir Putin for the Putin government’s meddling in the U.S. presidential election.
https://www.bloomberg.com/news/articles/2018-05-01/u-s-extends-deadline-for-deripaska-to-divest-from-rusal-en
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