The US Treasury has extended the deadline for the completion of share transactions with GAZ Group

The US Treasury has extended the deadline for the completion of share transactions with GAZ Group


 

RNS.- The US Treasury has re-extended the deadline for the completion of the share transactions with GAZ Group until 8 November 2019. The relevant statement has been made by the US Treasury Office of Foreign Assets Control – OFAC.

In addition, the period during which the US investors must withdraw from the company’s securities has also been extended until 8 November 2019.

The US Treasury has imposed sanctions against 24 individuals and 14 legal entities from Russia on 6 April 2018. Particularly, Oleg Deripaska and the companies belonging to him: En+ Group, GAZ Group, Basic Element and UC Rusal have been included in the sanctions list.

The US Treasury Department has notified the US Congress of its intention to remove the restrictive measures imposed on the companies belonging to the Russian businessman Oleg Deripaska: En+ Group, UC Rusal and Eurosibenergo, in December 2018. The sanctions on the companies have been lifted on the night of 27-28 January 2019. However, the sanctions against Oleg Deripaska remain in force.

On 6 March 2019, the US Treasury has extended the period of withdrawal of US investors from GAZ Group securities and the deadline for completing transactions with the company until 6 July 2019.