U.S. again extends sanctions deadline for Rusal until January
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has once again extended the expiration date of certain general licenses related to EN+ Group plc (EN+), United Company RUSAL PLC (RUSAL), and GAZ Group (GAZ) until January 7, 2019.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) had extended the expiration date from 12 November 2018 to 23 October 2018.
“EN+, RUSAL, and GAZ are proposing substantial corporate governance changes that could potentially result in significant changes in control of these sanctioned entities. As the review of these complex proposals is ongoing, OFAC is extending the expiration date of related licenses until January 7,” said a Treasury spokesperson.
In April, The U.S. Treasury had imposed sanctions against Oleg Deripaska and eight companies in which he is a large shareholder, including Rusal.
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