New Trump sanctions cost Russian oligarch

Aluminium giant Rusal share price halved after US sanctions

CEO of Glencore Glasenberg attends the St. Petersburg International Economic Forum Thomson Reuters MOSCOW (Reuters) - Rusal's dollar bonds slumped to record lows and a prominent board member resigned on Tuesday in the latest aftershocks from the Russian aluminum giant's inclusion last week on a new US sanctions list.

EN+, another company owned by Deripaska, plunged 25 percent on the London bourse, the BBC reported.

The Kremlin spokesman, Dmitry Peskov, said Moscow was watching events on the markets closely but that an assessment of the impact of the sanctions would take time. The latest sanctions affected companies such as Sberbank, whose shares fell 17% in Moscow.

Washington has accused Deripaska of operating for the Russian government.

In total, 12 companies had sanctions imposed for profiting from a Russian state engaged in "malign activities".

A source with a major USA bank which used to deal with Rusal said all payments were now going to an escrow account, complicating the completion of payments between buyers and sellers. The state-controlled bank is seen as a barometer for the wider Russian economy.

The new sanctions promise to make it much more hard for the companies to do business overseas.

EN+, which only listed in London in November having raised $1 billion from City investors despite fears over the potential of further sanctions being imposed on Russian Federation, said it would focus on maintaining its operations and ensuring it "abides by all applicable laws and regulations".

In Moscow the dollar-denominated RTS index ended 11.2% lower and the rouble-based MOEX Russian index shed 7.7%, while the rouble fell 3% against the United States dollar.

The US Treasury has said investors have until 7 May to divest or transfer debt, equity or other holdings in Rusal, En+ and Russian carmaker Gaz.

Under the sanctions, Americans are generally prohibited from doing business with the companies, and people of other nationalities could face sanctions themselves if they facilitate transactions for the firms.

It said Deripaska was sanctioned "for having acted or purported to act for or on behalf of, directly or indirectly, a senior official of the Government of the Russian Federation".

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