US Treasury Extends Time to Divest From EN+, GAZ, Rusal
The U.S. Treasury Department said on Tuesday that it had extended the deadline for investors to divest holdings in sanctioned Russian companies EN+, GAZ Group and Rusal to Oct. 23 from Aug. 5. 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 …