The shares of Russian aluminum giant Rusal went up by 7.7 percent at the opening of the Hong Kong Stock Exchange, the stock market data showed on Monday in the wake of the removal of Washington’s sanctions against the company.
Rusal shares increased to 3.21 Hong Kong dollars ($0.41) per share.
Last April, the United States introduced new sanctions against Russia, in particular, adding Deripaska and a range of Russian companies, including Rusal, to the OFAC’s List of Specially Designated Nationals and Blocked Persons. The entities included in this list have their assets in the United States blocked, and US citizens are banned from any business with these companies, including any operations with debt and equity instruments.
EN+ Group has overhauled the composition of its board of directors as well, with eight of the total 12 seats now appointed to independent directors accepted by the OFAC.
“The Company expects clearing and settlement in its GDRs to recommence on a normalised basis shortly,” the statement said.