UPDATED 7:25 AM PT — Friday, January 11, 2019
Treasury Secretary Steven Mnuchin defends the decision to lift sanctions on Russian companies linked to oligarch Oleg Deripaska.
Mnuchin made the comments on Thursday, saying the administration would continue to keep a grasp on the firms despite last month’s decision to ease restrictions.
In a recent statement, the secretary said the companies will face swift consequences and sanctions will be brought back if they fail to comply.
The businesses have agreed to restructure in order to reduce the oligarch’s stakes.
“If anything we are trying to de-link these companies, so that they will not be under the influence and control of a sanctioned oligarch, that’s our objectiv,” explained Mnuchin.
The treasury secretary went on to say the goal of sanctions is to change behavior, and he believes the decision shows sanctions can result in positive change.