The US Department of the Treasury will make sure that the Russian companies En+, Rusal and EuroSibEnergo fulfill their commitments necessary for sanctions relief, Undersecretary of the Treasury for Terrorism and Financial Intelligence Sigal Mandelker said on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 12th March, 2019) The US Department of the Treasury will make sure that the Russian companies En+, Rusal and EuroSibEnergo fulfill their commitments necessary for sanctions relief, Undersecretary of the Treasury for Terrorism and Financial Intelligence Sigal Mandelker said on Tuesday."Treasury will be vigilant in ensuring that all of these commitments are met, and failure to comply will bring swift consequences," Mandelker said in a written testimony to the US House of Representatives Appropriations Committee.
Mandelker explained that all three companies agreed to an unprecedented degree of transparency for the Treasury Department to monitor their operations by undertaking extensive auditing, reporting and certification requirements.
"There is now a Western foothold into the companies' corporate governance and leadership structure moving forward," Mandelker said.
On January 27, the Treasury Department lifted sanctions imposed on Rusal, EN+ Group and EuroSibEnergo after the three companies reduced the ownership stakes of Russian businessman Oleg Deripaska, while the sanctions against the businessman remained in force.
The United States introduced sanctions against Deripaska and dozens of other Russian individuals and entities in April 2018 over their alleged links to the Russian government, which Washington has repeatedly accused of malign activities.
Russian Prime Minister Dmitry Medvedev said the United States was using sanctions as a political tool in order to achieve economic goals.
