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A Russian oligarch with ties to Russian President Vladimir Putin along with his allies will maintain a majority ownership in an energy company under a Treasury Department plan to lift sanctions against the business, according to The New York Times.
But, according to documents obtained by the Times, Deripaska and his allies would own approximately 57 percent of EN+ under the Treasury Department plan.
The administration is expected to lift sanctions against EN+, as well as Rusal and EuroSibEnergo, after Congress failed to block the administration from moving forward with its plan.
More than 130 Republicans broke with Trump to back the measure in the House, marking a significant rebuke of the administration's plan.
But Senate Republicans were able to defeat the measure, where it fell three votes short of the 60 needed to defeat a filibuster.
Eleven Republicans voted with Democrats in the Senate to advance the resolution of disapproval, arguing that they were unconvinced that Deripaska wouldn't still have effective control over the companies.
"For all intents and purposes between his shares, the independent shares that the Russian state-owned bank control and various other individual shareholders, I still think he retains operational control," Sen. Marco RubioMarco Antonio RubioHow a nice-guy South Dakota senator fell into a Trump storm Republicans threaten floor takeover if Democrats weaken filibuster Democrats must close the perception gap MORE (R-Fla.) told reporters ahead of the initial vote. "So they’re going to have to do better.”
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