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Russia, Back from the Brink

Forbes

13 Feb 2019

Morrison & Foerster counsel Michael Dobson discusses Russian billionaire Oleg Deripaska’s aluminum powerhouse Rusal obtaining a sanctions reprieve last week in the Forbes article entitled “Russia, Back from the Brink.” The company’s British chairman convinced Deripaska to relinquish some of his controlling interests in the company as Deripaska is sanctioned as an individual, but his company is not.

“The scale of this deal was unprecedented,” said Dobson. “Oleg divested himself down to around 44.9% and took steps to sever his control over En+Group. In exchange for that, there are no sanctions on Rusal now.”

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