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UPDATE 1-Rusal non-executive directors exit board after U.S. sanctions

Published 11/04/2018, 09:25 am
Updated 11/04/2018, 09:30 am
© Reuters.  UPDATE 1-Rusal non-executive directors exit board after U.S. sanctions
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April 11 (Reuters) - Russian aluminium producer United Company Rusal Plc 0486.HK on Wednesday said two of its non-executive directors resigned after the company's inclusion on a new list of U.S. sanctions targeting Russian companies and their owners.

Maksim Goldman and Daniel Lesin Wolfe stepped down from their positions due to the sanctions imposed by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury, the company said.

This follows the resignation of Glencore GLEN.L Chief Executive Ivan Glasenberg from his role as a Rusal director.

Rusal's share price has halved since the announcement of the sanctions.

Washington imposed sanctions on Friday on seven Russian oligarchs, including Rusal's owner Oleg Deripaska, and 17 senior Russian government officials, striking at allies of President Vladimir Putin in one of Washington's most aggressive moves to punish Moscow for its alleged meddling in the 2016 U.S. election and other "malign activity." sanctions explicitly bar U.S. entities from doing business with Rusal, but the impact also extends to companies outside the United States.

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