U.S. to remove sanctions from aluminium giant Rusal

FILE PHOTO: Russian aluminium tycoon Oleg Deripaska and Industry and Trade Minister Denis Manturov arrive for the talks of Russian President Vladimir Putin with South Korean President Moon Jae-in at the Kremlin in Moscow, Russia June 22, 2018. REUTERS/Sergei Karpukhin

(Reuters) - The U.S. Treasury will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminium giant Rusal <0486.HK> and its parent En+ , watering down the toughest penalties imposed since Moscow's 2014 annexation of Crimea.

In April, the U.S. Treasury imposed sanctions on Deripaska, Rusal, En+ and other companies in which he owns stakes, citing "malign activities" by Russia, prompting turmoil in global aluminium markets.