U.S. Treasury extends time to divest from EN+, GAZ, Rusal
Reuters
Published Jul 31, 2018 06:04PM ET
U.S. Treasury extends time to divest from EN+, GAZ, Rusal
WASHINGTON (Reuters) - The U.S. Treasury Department said on Tuesday that it had extended the deadline for investors to divest holdings in sanctioned Russian companies EN+
The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including aluminum exporter Rusal, in response to what it termed "malign activities" by Russia.
Deripaska has held a controlling interest in En+, which in turn controls Rusal, the world's largest aluminum producer outside of China. Automaker GAZ is also part of his business empire.
U.S. Treasury Secretary Steven Mnuchin said last week that the United States was in productive talks with Rusal to remove it from Washington's sanctions list.
The company has taken a number of steps, including revamping its board, in the hope of escaping the U.S. blacklist.
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Written By: Reuters
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