US extends deadline for American investors to divest funds from newly sanctioned Russian companies

1 May, 2018 23:41

The US Treasury has extended the deadline for investors to divest or transfer their holdings from United Company Rusal Plc, En+ Group PLC, and the GAZ Group until June 6, instead of the planned deadline of May 7. On April 6, the US Treasury slapped a new round of sanctions against Russian officials, businessmen, and companies. These included a number of enterprises belonging to Rusal’s co-owner Oleg Deripaska. The US authorities originally set a May 7 deadline for American investors to get rid of securities from the Russian companies and subsidiaries and to cancel contracts with all enterprises, subject to new punitive measures.