The Trump Administration amended its proposed Russia sanctions, granting a possible reprieve for UC Rusal, which found itself being ostracized by the market in April. Rusal’s owner, the En+ Group, was facing a possible delisting until the majority shareholder, Oleg Deripaska, who is also the CEO of UC Rusal, gave up his board seat and reduced his share holdings. The U.S. Treasury granted several Russian companies, including En+, an extension for compliance. The announcement caused Rusal’s stock price to rise sharply. As of press time, the company had regained almost of the ground it lost when the U.S. sanctions where initially proposed.
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