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US Senate rejects measure to maintain sanctions on Russia's Rusal, EN+


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US Senate rejects measure to maintain sanctions on Russia's Rusal, EN+

U.S. Senators on Jan. 16 voted down legislation to maintain sanctions against Russian billionaire Oleg Deripaska's companies United Co. Rusal PLC, its parent En+ Group PLC, and EuroSibEnergo PLC.

The Senate voted 57-42 to end debate on keeping the sanctions against Kremlin associate Deripaska's power and aluminum businesses in place, despite 11 Republicans voting with Democrats on the issue, after progressing a motion in favor of the sanctions the day before. The resolution needed 60 votes to proceed to a final passage vote, Reuters reported.

Sanctions against Deripaska himself will remain in place.

Democratic Minority Leader Chuck Schumer moved to force a vote on the issue after Treasury Secretary Steven Mnuchin on Jan. 10 defended the Trump administration's plan to remove the sanctions on the companies imposed in response to Russia's alleged meddling in the 2016 U.S. presidential elections.

The Democratic chairs of seven House of Representatives committees sought to delay easing the sanctions earlier this month over concerns that the plan to do so would neither significantly affect Deripaska's ownership nor sever his control of aluminum producer Rusal, power producer EuroSibEnergo and En+ Group.

Rusal shares were 6.12% higher by trading close in Hong Kong on Jan. 17 and were up 3.43% in early afternoon Moscow trading.