The House has blocked Treasury Department by 362 votes to lift sanctions against companies controlled by Oleg Deripaska, a Russian oligarch.
The Treasury Department has announced last April regarding the sanctions imposed on Mr. Deripaska and his companies, and companies under the Russian oligarchs, as they were accused of meddling with the administration’s tough stance against Moscow. The sanction was taken into effect immediately for Deripaska.
However, his three companies’ sanctions were delayed in between aggressive lobbying and legal campaigns by the companies and their allies. They claimed that the sanction would bring in an economic ripple effect that could damage companies in the US, Europe, Jamaica, Guinea and other countries and corporations that are being supplied by their aluminum business.
The Treasury Department has been reported to made negotiations with Deripaska to lifting the sanctions in exchange for reduced control of power and ownership in his companies.