Oleg Deripaska-Linked Firm Was Raided for Undisclosed U.S. Inquiry

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10. Hello McTurtle

SANCTIONED RUSSIAN OLIGARCH'S COMPANY TO INVEST MILLIONS IN NEW ALUMINUM PLANT IN MITCH MCCONNELL'S STATE

https://www.newsweek.com/company-russian-oligarch-millions-aluminum-plant-mitch-mcconnell-1397061

Rusal, the aluminum company partially owned by Russian oligarch Oleg Deripaska, announced plans to invest around $200 million to build a new aluminum plant in Kentucky just months after the Trump administration removed it from the U.S. sanctions list.

The new aluminum plant, slated to be built in the home state of Senate Majority Leader Mitch McConnell, will be the biggest new aluminum plant constructed in the U.S. in decades. Rusal will have a 40 percent stake in the facility.

"Rusal, one of the leading global aluminium producers, and Braidy Industries Inc., a U.S. base holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announce an intent to establish a joint project in Ashland, Kentucky, USA to produce flat-rolled aluminium products for the U.S. automotive industry," according to a company press release.

The U.S. removed Rusal from its sanctions list in January, after the Treasury Department struck an agreement with the company that saw Deripaska, a close ally of Russian President Vladimir Putin, reduce his stake in the company to below 50 percent and lower his voting rights to below 35. The agreement requires the companies to report any contact between Deripaska and company affiliates, including members of the board.


McConnell was among the advocates for lifting sanctions on Rusal, arguing that the deal with Treasury would maintain pressure on Deripaska personally without disrupting global aluminum supplies.