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Sanctioned Russian oligarch's company to invest millions in new aluminum plant in Mitch McConnell's stateSanctioned Russian oligarch's company to invest millions in new aluminum plant in Mitch McConnell's state
tulc(finds this not at all suspicious)The agreement struck with the Treasury Department gave the Swiss commodities firm Glencore, a company that has done business with Deripaska for years and whose CEO previously sat on Rusal’s board, some of Deripaska’s lost shares. The Russian bank VTB, nicknamed Putin’s piggy bank, also got a stake in Deripaska’s companies. Some experts have claimed that it is possible Deripaska could use his ties with these companies to exert some influence over Rusal.
Meanwhile, at least one of the trustees that the Office of Foreign Assets Control appointed to ensure that Deripaska does not exercise influence on the company’s board is linked to a law firm that has worked with the oligarch and his companies for years.
Earlier this month, The New York Times reported the Treasury Department had allowed around $78 million worth of company shares to be transferred to a trust fund belonging to Deripaska’s children, despite a previous statement from Treasury Secretary Steve Mnuchin claiming that the oligarch’s children would “in no way benefit” from sanctions relief.