US Treasury has extended the completion period of transactions with GAZ

US Treasury has extended the completion period of transactions with GAZ


 

RNS.- US Treasury has re-extended the completion period of transactions with GAZ Group until 22 April 2021. The relevant statement has been made by OFAC.

In addition, the period by the end of which American investors must withdraw from the securities of the GAZ Group has also been extended until the aforementioned date.

OFAC brought sanctions against 24 Russian individuals and 14 legal entities on 6 April 2018. Businessman Oleg Deripaska is one of the significant names in the list, along with his companies: En+ Group, GAZ Group, Base Element and UC Rusal.

The US Treasury sent a notice to the US Congress concerning its intention to lift the restrictive measures against the companies belonging to Oleg Deripaska: En+ Group, UC Rusal and EuroSibEner in December 2018. The sanctions have been lifted during the night of 27-28 January 2019. The sanctions against Deripaska himself remain in force, on the other hand.

On 20 March, OFAC extended the term for American investors to withdraw from GAZ Group securities and the deadline for the completion of transactions with the company until 22 July 2020.