April 11, 2018 / 2:54 PM / a year ago

Russia's Renova says board at its Swiss subsidiary dismissed due to sanctions

MOSCOW, April 11 (Reuters) - The entire board of directors at Renova Management AG, the Swiss subsidiary of Russia’s Renova group, was dismissed by shareholders on Monday due to new U.S. sanctions, Renova spokesman Andrey Shtorkh told Reuters.

“Thus, (ex-Deutsche Bank head Josef) Ackermann and all other board members are not part of the board anymore,” Shtorkh said.

Renova and some other Russian companies were added to a U.S. sanctions black-list on Friday as part of Washington’s efforts to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity”. (Reporting by Polina Devitt; Editing by Jack Stubbs)

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