Russian En+, the parent company of aluminium maker Rusal, said in its annual report published on April 29 that remuneration to key management personnel amounted to short-term employee benefits of $16 million.
En+ and Rusal were sanctioned by the U.S. Treasury last year. British Lord Greg Barker had negotiated the companies to be taken off the sanctions list after Russian businessman Oleg Deripaska sold down his stake in the parent group. A spokesperson for the company said Barker’s pay for the year was part of the $1.8 million paid to non-executive directors.
Barker told the Financial Times he would get a modest bonus. A company spokesperson said this would be revealed in next year’s disclosures. Bloomberg reported on May 2 that Barker’s bonus amounted to $4 million. The sanctions contributed to a collapse in En+’s performance. On April 30, the company said aluminium sales decreased by 7.2 percent in the first quarter of the year compared to the first quarter of 2018.