U.S Treasury further extends wind-down period for Rusal to December 12
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has further extended the expiration date of certain general licenses related to EN+ Group plc (EN+) and United Company RUSAL PLC (RUSAL) until December 12, 2018.
Last month, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) had extended the expiration date from 23 October 2018 to 12 November 2018.
General Licenses 13E, 14B, and 16B amend their previous versions by extending the expiration date from November 12, 2018, to December 12, 2018, for transactions related to the companies and their subsidiaries.
“EN+ and RUSAL have approached the U.S. Government about substantial corporate governance changes that could potentially result in significant changes in control. As the review of these proposals is ongoing, OFAC is extending the expiration date of related licenses until December 12,” said a Treasury spokesperson.
The U.S. Treasury in April imposed sanctions against Oleg Deripaska and eight companies in which he is a large shareholder, including Rusal.
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