A company, founded by Russian billionaire Oleg Deripaska, may become a reason for changes in the work order of the legendary London Stock Exchange.
The fact is that in 2018, Washington imposed sanctions against Deripaska and his companies. However, the billionaire received temporary permission to continue working in the companies with the condition that he would leave the board of managers. A year later, all the sanctions against En+, UC Rusal, and EuroSibEnergo were lifted as promised. However, Oleg Deripaska left the management only on paper. At the end of 2020, European officials reported to the US government on how Russian magnate Oleg Deripaska complied with the conditions set out to withdraw sanctions.
It turned out that the businessman failed to fulfill the terms of the agreement with the US authorities to intensify Russia’s influence and continued managing his companies.
Such a situation made the UK authorities impose new restrictions on the companies that may threaten the national security of the United Kingdom. As a result, these companies cannot list their shares on the London exchange.
HM Treasury is planning to settle the issue concerning the operation of the exchange in order to prevent such tricks in the future.
