Moscow. September 11. INTERFAX.RU – “RUSAL”, six months ago, came under U.S. sanctions, have re-registered in the special administrative region (SAR) of the Russian Federation before the expiry of the deadline OFAC on business transactions with the company, to the head of Ministry of economic development of Russia Maxim Oreshkin.
“We have now the law entered into force. We are preparing all the regulations, will be a number of refinements, including legislation, so we’re talking about the beginning of October,” he told reporters on the sidelines of the WEF-2018, answering the question about the timing of the re-domiciliation of “RUSAL”.
The term of a permit to the business transaction with RUSAL expires October 23.
As reported, in August, immediately after the entry into force promptly adopted on the background of strengthening of us sanctions law on ATS, the Board of Directors of “RUSAL” approved the preparation to the change of jurisdiction of the company from Jersey to Russia. The Board requested management to prepare and present a detailed plan of action for change of jurisdiction. Finally re-domiciliation must be approved by the shareholders of “RUSAL”.
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