INSIGHT-Inside Deripaska's scramble to soften Russia sanctions blow [Reuters]
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Source: Reuters
INSIGHT-Inside Deripaska's scramble to soften Russia sanctions blow | Reuters Reuters Staff 9 Min Read * Russia’s Deripaska took steps to prepare for sanctions - sources * Advisers floated different sanction scenarios - sources * Prospect of sanctions on businesses caused “cold sweat” - source By Polina Devitt, Dmitry Zhdannikov and Julia Payne MOSCOW/LONDON, April 23 (Reuters) - In December, as news reports emerged about potential new U.S. sanctions against Russia, aluminium magnate Oleg Deripaska instructed advisers to draw up contingency plans, according to people close to the businessman and his firms. Senior executives, lawyers and aides working for the Russian tycoon met almost weekly to develop a game plan for different sanctions scenarios, the people said. They even took preemptive steps to mitigate the impact of sanctions, including switching most dollar payments and loans of Deripaska’s En+ Group PLC into euros and pounds as well as planning to replace U.S. equipment supplie
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