Ukraine has published the expanded list of sanctions against Russian Federation

A Russian aluminum giant just lost its CEO and most of its board as it tries to wriggle out of US sanctions

They targeted a number of Russian oligarchs, who the USA said had profited from Russia's regime, and their companies - but the sanctions appeared to target, in particular, energy tycoon Deripaska.

The chief executive and seven directors have resigned from Russia's largest aluminium producer and the company has warned that United States sanctions could leave it struggling to repay its debts. His departure follows those of the company's CEO and seven other directors, which were announced Thursday.

On Thursday, May 24, UC Rusal announced the resignation of its general director Alexandra Buriko and Evgeny Nikitin was appointed its CEO.

Deripaska has already said he agreed in principal to reduce his influence in the EN+ holding company which controls Rusal.

"Oleg Deripaska, non-executive director of the Company, has tendered his resignation as a director of the Company with effect from 25 May 2018", the company's statement said.

The U.S. Treasury Department on Tuesday gave Americans until October 23 instead of June 5 to wind down operations and contracts with GAZ and said it would consider lifting the sanctions if Deripaska ceded control of the company.

Separately, Rusal reportedly resumed shipping aluminum to some customers last week following the extension of the deadline for companies to wind down contracts under usa sanctions. The fall in sales and additional costs in rearranging the company's supply chain, "may".

"Opportunities to provide financing to the group on commercially reasonable terms will be very limited", it said.

The change of the company's management is aimed at removing UC Rusal from the U.S. sanctions list. "At the current stage the Company remains of the same view that the impact may be materially adverse to the business and prospects of the Group", the company concluded.

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