Russia’s Rusal purges its board in attempt to avoid US sanctions
Moscow — Half of the board of Rusal resigned on Thursday as the Russian aluminium giant scrambled to avoid US sanctions targeting its founder Oleg Deripaska. The firm, a major supplier for industrial companies around the world, is intensifying its efforts to show Washington its determination to become independent from Deripaska, who, de facto, has controlled the firm but now finds himself on a US blacklist. Even as the billionaire distances himself from the company, Rusal decided to purge itself of the directors Deripaska had appointed. Seven of the board’s 14 directors have resigned, as well as CEO Alexandra Bouriko. Deripaska did not resign his place on the board, but has previously indicated he doesn’t plan to seek re-appointment next month. In a statement, Rusal said the resignations were part of "the efforts that have been made by the management of the group to protect the interests of the company and its shareholders since the US Office of Foreign Assets Control (OFAC) sanctio...
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