Deripaska share plunge acts as warning to Russian tycoons:
"If the US Treasury wanted to show Russia’s oligarchs how damaging its sanctions programme could be, a 22 per cent fall in the value of aluminium tycoon Oleg Deripaska’s holding company EN+ was a powerful message. Washington passed sweeping sanctions on Friday targeting Mr Deripaska and six other oligarchs, 12 of their businesses, 17 senior Russian government officials and two state-owned companies, in a marked escalation of its attacks on the country’s business interests, responding to what it called Moscow’s “malign activity around the globe”. Hardest hit was Mr Deripaska, along with eight of his companies — the first time the US has gone after an oligarch and his entire business empire and a clear warning to other Russian billionaires and industrialists who have cultivated close links to President Vladimir Putin. "
'via Blog this'
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