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 December 12.
The deadline for termination of contracts with GAZ Group remained on October 23.
RUSAL shares and Global Depositary Receipts of En+ rose on the news.
On April 6 the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including En+ Group, GAZ Group, Basic Element, and RUSAL. The implementation date for En+ Group and RUSAL was postponed several times. (Prime/Ukrainian metal)