REFLECTIONS

Russia's Business Leaders Prepare For U.S. Sanctions

Feb 21, 2018 | 21:32 GMT

Oleg Deripaska, CEO of Russian metals giant RUSAL, speaks during a press conference in Hong Kong on April 12, 2009.

(MIKE CLARKE/AFP/Getty Images)

Highlights

The possibility that Washington will retaliate with sanctions against Russian meddling in U.S. elections has prompted many wealthy Russians to consider how they will protect their wealth.
One prominent metals tycoon has begun distancing himself from the firms he once ran, prompting questions about how many others will do the same.
If many of Russia's wealthiest influencers begin stepping out of leadership roles in their firms, the power-balance among the business elite will shift — and this could have political repercussions.

As Washington increases pressure on the Russian elite, one of Russia's most wealthy oligarchs is stepping down from two of his most prominent positions in a likely bid to save his empire. On Feb. 23, metals tycoon Oleg Deripaska will officially leave his presidential posts at RUSAL, the world's second largest aluminum firm, and En+ Group, a private Russian energy firm; Deripaska's representatives told Russian newspaper Kommersant that he will continue to hold controlling stakes in the two firms. By withdrawing from two of his most important posts, Deripaska is likely attempting to insulate his firms from coming U.S. sanctions, a move that other elites in the country may soon follow....

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