April 9, 2018 / 7:49 AM / 7 months ago

Russia's En+ says U.S. sanctions highly likely to hurt business

FILE PHOTO: A wall sign with the logo of aluminium and power producer En+ Group is seen on the facade of a building in central Moscow, Russia February 13, 2018. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Russia’s En+ Group, which manages the assets of tycoon Oleg Deripaska, said on Monday that new U.S. sanctions were “highly likely” to materially affect its business and prospects in an adverse way.

The United States imposed major sanctions on Friday against 24 Russians, striking at allies of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”

En+ said it intended to continue to fulfill its existing commitments whilst seeking solutions to address the impact of the U.S. sanctions. It said its primary focus would remain maintaining operations and protecting the interests of all its investors, GDR holders and partners.

Reporting by Maria Kiselyova; Writing by Katya Golubkova

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