Russia-UK trade & economic potential can overcome political rift, En+ chairman says

While tensions between London and Moscow have been high in recent years, the benefits of economic cooperation between the two could help to overcome the political crisis, executive chairman of En+ Group, Greg Barker, has told RT.

“I think there is a lot of potential in the Russian market for UK companies and while the bilateral relationship between the two countries remains difficult, nevertheless trade is something very tangible that we can focus on as there both sides can make a really positive impact for good,” Barker said in an interview on the sidelines of the annual Russian-British business forum in London.

The business event shows that both UK and Russian companies are seeking opportunities for cooperation, he stressed. Thus, British businesses can grow their footprint in markets outside Europe, which will be especially important after the looming Brexit, and Russian firms can find reliable European partners.

En+ Group plc is a Russian multinational company listed on the London Stock Exchange. It is a leading global aluminum and power producer. 

In 2018, the company was added to the US sanctions list in an effort to limit the control of the firm by Russian businessman Oleg Deripaska. The same year, chairman of the board of directors Gregory Barker proposed a plan aimed at removing the company from the sanctions’ list. It envisaged the reduction of Deripaska’s shareholding to below 50 percent and the creation of an independent board of directors. Once that was done, the US Treasury announced it was lifting sanctions against the company.

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