Oligarch bids to lift sanctions

THE US would be willing to release aluminium firm EN+ from crippling sanctions with oligarch owner Oleg Deripaska keeping a stake of about 45pc, reports suggest.

The Putin crony has a 66pc stake in the London-listed firm but will cut his holding to below 50pc and resign from the board to get sanctions lifted. The US is more interested in targeting him than putting his companies out of business.

The 50-year-old and several of his businesses were slapped with sanctions in April due to alleged links with Russian president Vladimir Putin and organised crime.