U.S. gives investors until 2022 to divest from sanctioned Russian co GAZ

Industry: Automobile    2020-12-25

The United States on Wednesday granted investors another year to divest from Russian automaker GAZ PAO, a company linked to sanctioned Russian tycoon Oleg Deripaska.

The U.S. Treasury’s Office of Foreign Assets Control, in a statement posted online, said it would allow investors and businesses until Jan. 26, 2022, to cut ties with the company. Washington had sanctioned Deripaska over Russia’s “malign activity.”

Source: Reuters.com