Jed Shugerman was quoted in a Newsweek article about the recent vote by House Republicans against a Treasury Department plan that would lift sanctions on the companies of Russian oligarch and Kremlin ally Oleg Deripaska.
In a surprise move Thursday, the House voted against a Treasury Department plan that would lift sanctions on the companies of Russian oligarch and Kremlin ally Oleg Deripaska
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Jed Shugerman, a professor at Fordham Law, told Newsweek that, although Deripaska will lose majority control of his three companies, the Treasury’s plan will benefit the oligarch, and by extension, Russian President Vladimir Putin.
“Given the reality of corporate structures, anyone looking at this understands that he was left with enough control that he would benefit if sanctions were lifted…Forty-five percent of a healthy company is better than 100 percent of a company that will fail,” Shugerman told Newsweek, noting that the sanctions had left the three firms crippled economically.
“Lifting sanctions benefits Putin because regardless of the shell games among oligarchs and Russian entities, this benefits Putin and has obvious implications. It is shameful that the Senate abandoned its duties,” Shugerman added.