Treasury Secretary Steven Mnuchin has said he is considering lifting the sanctions altogether because they are punishing the “hardworking people of Rusal.” But Mr. Mnuchin has it backward. If he was truly concerned about Rusal’s 61,000 employees, he would not relent until the company fully washed its hands of Mr. Deripaska and the corrupt regime the aluminum giant serves.
Behind Mr. Deripaska’s estimated fortune of as much as $5.3 billion, there stands a great crime. During the “aluminum wars” of the 1990s, when that economic sector was consolidating in the chaotic privatization that followed the collapse of the Soviet Union, the young metals trader was suspected of ties to gangsters as he seized control of huge Siberian smelters. According to testimony by a gang member in Stuttgart, Germany, part of Mr. Deripaska’s value to the group were his links to Russia’s security services. While his rivals were killed off or fled Russia, Mr. Deripaska somehow emerged as the director general of Why is the Treasury Department easing the pressure of sanctions on one of Russia’s most notorious billionaire oligarchs?