Wnited States Senate <_< January 28, 2019 ‘Tue Honorable Steven Muuchin Scotetary of the Treasury US. Department of the Treasury 1500 Pennsylvania Avenue N.W. Washington, D.C. 20220 Dear Seeretary Mouchin, T write today to express my conccun thatthe agreement the U.S. Treasury Department's Office of Foreign Asset Control (OFAC) reached with Olog Deripaska does not remove Deripaska’ ability to control FN, Rusa, and EuroSibEnerge, and I ask that you timely provide the Senate Intelligence Commitize with “he same information ORAC requests or receives under the ageeemient and the results of uny audits perfermed at OFAC’s request ueder the agreement so that Congress ean continue its ongoing ovetsight of the sanctions impased on Deripasks and his comaumies, Tam deeply concerned by he reports that there were details of the agreement not disslused in your December 19, 2018 letter to Msjority Leader McConnell regarding the agreement wth Deripaska. The cdditional inlormation strengthens my convic‘ion that Deripaska will continue te exert control over LN! Rusal, né TaroSibFnergo. Based on thase reports and the letter, 1 understand that Deripaska’s equity stake in EN will decrease ta 44.95 perceat. But wen ccambired with the holdings ofthe family and close assacintes of Deripaska— including his personal foundation, his ex-wife, her father, and a firm with links lo her Family—mcans that Mr Deripaska will continue ‘o be elnsely associated with ncazly $7 percent ofthe equity of N+ after the rostructurings comemplated by the agreement, You stated in your letter that Mr, Deripaska himself will not be permitted to vote more than 35 percent of his EN. shares, And you also implied that the votes a these individuals clase “0 Deripaska will be assigned to un independent third party. Nevertheless, the combination ofa ncarly $7 porcent equity stake and ‘he ability uo vole 35 percent of N+ shares suggests tat Deripaske and his close associates will continue t have the largest stko—by far—in EN. This neatly 57 percent stake alone is sufficient ro determine that Deripaska will continue to have the ability to control EN, Rusal and EuroSibEnergo. But additional factors strengthen this ‘conclusion. For exannale, Deripaska is the founder of EN‘, and was responsible for the hiring of ‘many Rusul employees—another avenues for him fo exert contra’ influence, Aaother sanctioned Russian oligarch, Viktor Vekselberg, will continue to have a stake throug SUAL Partners Linvited, which owns 22.5 percen: of Rusal. And VIB, a Russian government-owned bank that is subject to same 12. samctions and that has ties to Deripaska, will own about 24 percent Taken together, these additional frets mean that Dexipaska and companies and individuals eqnnocted to him, will continue have the ability to exert significant control over EN, Rusal and EuroSibEnergo aller Ue vessuctuting. [Bipartisan majorities in the House and Senate signaled theie concemn with his agreement. These recent reporss strengthen my determisatioa taal tke agreement ‘Trcastzy has strcck with Deripaska needs to be overscen stiely nol only by OFAC but also by Congress ‘Your letter describes the ongoing auditing, cetication and reporting and otter information rights that OFAC will eezeive with respect w these companies under the agreement. | ask that you provide the Serate Intelligence Committee with the same informtion OFAC requests ot reveives regarding the companies and the “ealls of any audits performed at OPAC’s request under the agreement s9 that Congross ean continu its ongoing oversight ofthe sanctions {imposed on Deripaska and his eompenies. ‘Thank you for your attention to this important matter. | would appreciate a response by Kebruary 3.2018, Sincerely, Wok. © Morwez Mark R, Warner United States Senator