Lord Barker takes time out for Russia’s sanction-hit power and aluminium producer En+
A former UK energy minister is pausing his House of Lords duties to pour his efforts into the role as chair of a Russian metals giant which he helped save from US sanctions.
Lord Barker is taking time out from the House to focus on London-listed En+, having not voted since 11 February, the Sunday Times reported.
Read more: The London Stock Exchange will halt trading in En+ this week over sanctions
Barker has been credited as a major player in helping En+ lift the US sanctions against it earlier this year after a corporate restructuring.
The company conjured up a deal with lawmakers in Washington to exempt it from sanctions if its majority shareholder, oligarch Oleg Deripaska, reduced his stake to under 45 per cent, among other changes including a new board.
Barker is expected to face questions about his work when he appears before the Commons Foreign Affairs Select Committee this week.
Read more: US sanctions batter Russian markets and the rouble
He joined the board of the aluminium and energy firm just before it listed in London in 2017. He faces an inquiry by the Lords' standards commissioner in relation to "personal honour, parliamentary services and paid advocacy".