Press Releases

OFAC Extends Expiration Date of General Licenses Related to EN+ and RUSAL

Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today extended further the expiration date of certain general licenses related to EN+ Group plc (EN+) and United Company RUSAL PLC (RUSAL).  These General Licenses 13E, 14B, and 16B amend their previous versions by extending the expiration date from November 12, 2018, to December 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.  As the review of these proposals is ongoing, OFAC is extending the expiration date of related licenses until December 12,” said a Treasury spokesperson.    

View General License 13E, General License 14B, and General License 16B and information on today’s action.