Treasury lifts sanctions against 3 Russian companies

January 27, 2019 - 3:40 pm

WASHINGTON (AP) — The Treasury Department is lifting sanctions on three companies connected to Russian oligarch Oleg Deripaska. The move comes despite an effort in Congress to block the action with many lawmakers concerned that the Trump administration is not being tough enough on Russian President Vladimir Putin and his allies.

Treasury announced Sunday that it is removing Russian aluminum giant Rusal and two other companies from its sanctions list on the grounds that the companies have reduced Derapaska's direct and indirect shareholding stake in the three companies.

Congress voted earlier this month to try to block the administration's efforts to remove the sanctions. In the House, 136 Republicans joined Democrats to disapprove the deal while in the Senate 11 Republicans supported the move but fell short of the 60 votes needed.

AP Editorial Categories: 
Tags: