Deripaska makes concessions to the US

Oleg Deripaska, owner of En+ Group, did not maintain his stance of defiance against US sanctions for long. It appears the oligarch has realised that Russia either cannot or does not wish to compensate him for his losses.

As a result, the billionaire independently submitted proposals to the US Treasury Department regarding the removal of the company from sanctions. Specifically, Deripaska agreed to reduce his stake from 66% to 45%. The difference will be transferred to VTB.

The company will also deprive the oligarch of dividend payments from his remaining stake. Deripaska will not even obstruct the appointment of independent directors.

The US Treasury Department has not yet reacted to the oligarch's proposal. It is not ruled out that such a development may not meet with their approval.