Deripaska is now actively preparing the next step: reducing his stake in En+, the group which controls Rusal.
Rusal Mining News
Washington said the sanctions were designed to punish Moscow for its alleged meddling in the 2016 U.S. election.
Nickel prices to ease off after reaching a three-year high in April.
Greg Barker welcomed a decision by the U.S. Treasury on Tuesday to give investors an extra month to divest or transfer their holdings in En+ Group and other sanctions targets.
Two sources told Reuters earlier on Friday that Rusal would soon appoint a fully independent board.
The sanctions against Rusal, world's second-biggest aluminium producer, have up-ended the supply chain as companies cut contracts to use Rusal metal.
By extending the sanctions deadline to Oct. 23, 2018, the Treasury Department has given Rusal and the aluminium market some much needed breathing space.
“The US government is not targeting the hardworking people who depend on Rusal and its subsidiaries,” Treasury Secretary Steven Mnuchin said.
Aluminum prices on the London Metal Exchange tumbled more than 8 percent after the U.S. Treasury Department announcement.
Rusal's 90 percent owned Bauxite Company of Guyana produced 1.05 million tonnes of bauxite - the raw material used to make aluminium - last year.
Castleton Commodities International LLC is sitting on a veritable gold mine as a scramble for aluminum unfolds in the wake of U.S. sanctions.
As supply fears grow, the market's attention is turning to China as a potential source of aluminium.
Aluminum rallied as much as 7.1 percent, a record intraday gain, to $2,718 a ton in London.
Alumina prices have already rocketed, jumping by more than a quarter in the last week and heading for a record high.
Physical premiums in the United States are at three-year highs and the price of alumina is going haywire.
The U.S.’s decision to blacklist United Co. Rusal, the world’s second-biggest aluminum maker, set off a rush to secure supply.
Almost all of Rio's aluminium production comes from a joint venture with Rusal in Australia.
In just four months, Glencore Plc chief Ivan Glasenberg has lost two of his closest business allies, billionaires Oleg Deripaska and Dan Gertler.
International prices, which have shot up more than 10 percent since the sanctions were announced, will have to rise further to lure exports from China.
Glencore Chief Executive Ivan Glasenberg resigned from his role as Rusal director on Tuesday
The LME will suspend Rusal's aluminium from its list on April 17 after some members raised concerns about settling LME contracts with sanctioned companies.
Rusal owns 20 percent of Rio's Queensland Alumina operation, of which Rio owns the remaining 80 percent.
Despite analysts predicting that sanctions against Oleg Deripaska may cause a turmoil in the mining world, Kinross made an effort today to stand clear from such possibility.
The first casualties of Deripaska's inclusion on the U.S. Treasury's sanction list announced on Friday have been the share prices of EN+ and Rusal.
The sale will close a chapter at the world's second largest aluminium producer.