WASHINGTON — The Trump administration on Thursday defended its decision to lift sanctions on companies linked to the billionaire Russian oligarch Oleg V. Deripaska, arguing that the penalties had fulfilled their intended effect and that there would be “swift consequences” for any future violations. “These entities are undergoing significant restructuring and governance changes that sever Deripaska’s control and significantly diminish his ownership,” Mr. Mnuchin said. “Treasury will be vigilant in ensuring that EN+ and Rusal meet these commitments. If these companies fail to comply with the terms, they will face very real and swift consequences, including the reimposition of sanctions.”Rusal is the world’s second-largest aluminum company, and Mr. Mnuchin has expressed concern about damaging global aluminum markets if it were put out of business. The secretary argued that relieving the companies from sanctions still punishes Mr. Deripaska under the agreement that was reached.

Source: New York Times January 10, 2019 19:41 UTC