Deripaska’s VTB sanctions buster plan ‘difficult’ for OFAC, says former chief

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Deripaska’s VTB sanctions buster plan ‘difficult’ for OFAC, says former chief

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MOSCOW, RUSSIA - JUNE 22, 2018: Rusal President Oleg Deripaska seen during a meeting of Russia's President Vladimir Putin with South Korea's President Moon Jae-in at Moscow's Kremlin. Mikhail Metzel/TASS | Mikhail Metzel/Tass/PA Images

The US Office of Foreign Asset Control (OFAC) has an unprecedented decision to make on whether to accept a reported offer from EN+ owner Oleg Deripaska to sell shares in the company to VTB Bank. The aim of the deal is to reduce the oligarch’s majority stake in the aluminium conglomerate, which, it is hoped, will result in sanctions against it being removed.

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