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+), United Company RUSAL PLC (RUSAL), and GAZ Group (GAZ). These General Licenses 13G, 14C, 15B, and 16C amend their previous versions by extending the expiration date from December 12, 2018, to January 7, 2019, for transactions related to the companies and their subsidiaries.
On April 6, 2018, OFAC designated EN+ and GAZ 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+, RUSAL, and GAZ are proposing substantial corporate governance changes that could potentially result in significant changes in control of these sanctioned entities. As the review of these complex proposals is ongoing, OFAC is extending the expiration date of related licenses until January 7,” said a Treasury spokesperson.