Tuesday, January 8 2019 18:52

ArmInfo. The issue of returning the products of the Yerevan plant to the US market was again in doubt. The head of the Democrats in the US  Senate, Chuck Schumer, prepared a resolution against the decision of  the US Ministry of Finance to lift sanctions from En +, RusAl and  Eurosibenergo companies controlled by Russian entrepreneur Oleg  Deripaska, the Daily Beast reports.

The US Treasury Department announced in December 2018 that it intends to exclude En +, RusAl and Eurosibenergo from the sanctions list, since Deripaska will reduce  its share in these companies, RIA Novosti reports. At the same time,  Deripaska himself will remain on the list, and the assets in which  Deripaska owns 50% or more will remain frozen."I'm doing this not  because I decided that Congress should take action against this  agreement (on the lifting of sanctions - ed.), So far I have not come  to such a decision, but to preserve the procedural possibilities for  introducing such a resolution if will need ", - said Schumer and  added that the congressmen will continue to consider the grounds for  the decision of the administration of Donald Trump to lift the  sanctions from companies controlled by Deripaska. 

If Schumer decides to introduce this resolution, then a simple  majority in both chambers of congress will be required for the  document to be put on the table for the president. "Trump will most  likely reject the resolution, so the congressmen will have to collect  enough votes to circumvent the presidential veto," the newspaper  writes. In turn, Congressman Steny Hoyer said the publication that  "the Democrats will consider all possible options on this important  issue." The United States in April 2018 introduced new sanctions  against Russia. In particular, the US Treasury listed Deripaska and  the En + Group, the GAZ Group, Basic Element and RusAl to the black  list (SDN list). 

Listing means freezing assets in the US and banning any business with  these companies for US citizens.  The US Treasury initially gave a  month for Americans to sell the shares and debt instruments of these  companies and two months to complete existing contracts and stop  working with companies. The restrictions were to come into force on  May 7 and June 5, 2018, respectively. Then these terms were  repeatedly extended, the last time until January 21.Recall that the  Armenal plant in Yerevan, part of the UC Rusal structure, previously  had the opportunity to return to the US market. 

The US Treasury Department notified Congress of its intention to end  the sanctions against three companies: En +, UC Rusal and    Eurosibenergo.According to ArmInfo analysts, the decision will allow  the UC Rusal subsidiary - Yerevan Armenal Plant - to resume  deliveries of foil to the United States, suspended since mid-year due  to sanctions.Armenal is the largest exporter of finished products not  only in the USA, but also in the countries of the European Union.  According to the RA Statistics Service, in Armenia the release of  aluminum foil in January-November 2018. in comparison with the same  period of the previous year, it decreased by 12% - to 26,714 tons.  According to statistics, in November alone, the production of  aluminum foil decreased by 9.7% to 2004 tons.