Deripaska is not planning to participate in the forum in Davos, said a source

© RIA Novosti / Artem to Getinitiated in fotobounce Oleg Deripaska. Archival photoDeripaska is not planning to participate in the forum in Davos, said a source© RIA Novosti / Artem to Getinitiated the image Bank

Russian businessman Oleg Deripaska is not planning to participate in the next session of the world economic forum (WEF) in Davos, Switzerland, reported RIA Novosti a source close to the businessman.

Earlier, the Financial Times reported, citing two experts, «with knowledge of the situation» that businessmen Oleg Deripaska, Victor Vekselberg and the head of VTB Andrey Kostin has refused to participate in the next session of the Davos forum, which will take place in January 2019. The WEF did not comment on this post.

«Oleg Deripaska is not planning to go to Davos, he withdrew from business, so participation in the forum makes no sense», — told RIA Novosti source close to the businessman.

USA in early April imposed new sanctions against Russia, making the so-called «black list» (SDN list), a number of major Russian businessmen and companies controlled by them, in particular the controlled Deripaska and of En+ Group, «GAZ Group», the Basic element and RUSAL, as well as Vekselberg and his group of companies «Renova». Adding to the list of block of assets in the United States and a ban on any business with these companies for American citizens, including any transactions with debt and equity instruments.

The entry into force of these sanctions has been postponed several times. In mid-October, the U.S. Treasury once again extended the deadline for the conclusion of transactions in shares, debt instruments of RUSAL, En+ and «GAZ Group», as well as contracts with these companies until 12 December.

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