The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for investors to wind down business with Russia’s En+ Group and aluminum giant UC RUSAL until November 12 and from GAZ Group until October 23, the authority said.
“En+ and RUSAL have approached the U.S. government about substantial corporate governance changes that could potentially result in significant changes in control. To allow sufficient time for review, we are extending these licenses until November 12,” a spokesperson for the authority said.
On April 6 the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including En+ Group, GAZ Group, Basic Element, and RUSAL. (Prime/Ukrainian metal)
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