The Ukrainian Metal

Russia: US postpones sanctions against RUSAL

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)

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