Home / All / Textile machinery / Oerlikon is not subject to US sanctions as a result of the sanctions the US imposed against Viktor F. Vekselberg and Renova Group

Oerlikon is not subject to US sanctions as a result of the sanctions the US imposed against Viktor F. Vekselberg and Renova Group

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has identified Viktor F. Vekselberg and Renova Group, Moscow, as specially designated nationals pursuant to US sanctions rules, effective April 6, 2018.

Viktor F. Vekselberg indirectly holds an interest of 43.04 % in Oerlikon. Pursuant to the regulations of the OFAC of the US Department of the Treasury, Oerlikon is neither considered a sanctioned nor a blocked party because Mr. Vekselberg’s ownership interest in Oerlikon is less than 50 %. US persons and entities, as well as any other persons and entities, are therefore not restricted in their dealings with Oerlikon or in investing in Oerlikon.

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