Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today extended the expiration date of certain general licenses related to EN+ Group plc (EN+) and United Company RUSAL PLC (RUSAL). These General Licenses 13D, 14A, and 16A amend their previous versions by extending the expiration date from October 23, 2018 to November 12, 2018 for transactions related to the companies and their subsidiaries.
On April 6, 2018, OFAC designated EN+ for being owned or controlled by, directly or indirectly, Oleg Deripaska and other entities he owns or controls. In that same action, OFAC designated RUSAL for being owned or controlled by, directly or indirectly, EN+.
“EN+ and RUSAL have approached the U.S. Government about substantial corporate governance changes that could potentially result in significant changes in control. To allow sufficient time for review, we are extending these licenses until November 12,” said a Treasury spokesperson.