Deputy Chief of the US Treasury Marshall Billingsley said that the ministry is stepping up pressure on Oleg Deripaska and is seeking his withdrawal from the shareholders of En + Group and "Rusal". Mr. Deripaska agrees only to reduce his stake in En + below 45%, reported earlier to the Financial Times (FT) and confirmed the sources of Kommersant.
"I do not know of any intentions, I quote:" to make a deal "with Rusal, but we are seeking final Deripaska's withdrawal from the owners or supervisors of RusAl and En +," said August 21 Deputy Chief of the US Treasury Marshall Billingsley at the hearings in the Senate, commenting on the possibility of easing sanctions against companies of the Russian businessman (quoted by RIA Novosti).
We are far from reducing pressure, we are building it up, "Mr. Billingsley added.
In order to withdraw assets from sanctions, Oleg Deripaska agreed in April to reduce his stake in the industrial En + Group, which owns Eurosibenergo and 48.13% of Rusal shares, with the right to control the aluminum company by agreement of shareholders. Sources Bloomberg and Kommersant said that they are discussing the preservation of the businessman "about 40%" En + (at the end of 2017, he owned more than 66%). Reduction of the package of the businessman and his family members (including through transfer to the trust), the conclusion of Mr. Deripaska and his key representatives from the boards of directors of companies, as well as the involvement of independent directors and other events are included in the "Barker plan" - on behalf of the board of directors of En + Lord Gregory Barker.
FT on August 13 reported with reference to sources that the "Barker plan" proposed to the Office of Foreign Assets Control (OFAC) of the Ministry of Finance of the USA assumes a decrease in the share of Oleg Deripaska in En + below 45% from about 70%. This should be done mainly through the transfer of shares of a businessman VTB (already owns 9.62%), which after the lifting of sanctions will sell the securities to the market, and the proceeds from the sale will be used to repay Mr. Deripaska's loans to the bank. Sources of Kommersant confirmed that such a configuration is being discussed.
At the same time, Bloomberg reported on August 21 referring to sources that the Ministry of Finance rejected the offers of Oleg Deripaska (although the agency's report says a possible decrease in the share of the businessman to 48%). One of the sources of Kommersant, however, says that the dialogue continues. Representatives of Mr. Deripaska and En + declined to comment.
The current OFAC licenses allow the completion of trade contracts with En + and Rusal, as well as operations to exit debt instruments and shares of companies before October 23. Representing interests of En + lobbyist company Mercury earlier disclosed that in case of preservation of sanctions En + can be sold "in the interests of China" or nationalized by the Russian Federation. En + has already said that it is transferring Cyprus En + Holding Limited, which owns the group's energy assets, to the Russian jurisdiction, to one of the newly created special administrative regions (SAR, planned on the Russky Islands in the Primorsky Territory and Oktyabrsky in the Kaliningrad Region). Redomitsilatsiya in ATS head Jerseys En + Group Plc and UC Rusal Plc.