US postpones sanctions against En+, RUSAL to December 12

MOSCOW, Oct 12 (PRIME) -- The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for investors to wind down business with Russia’s En+ Group and aluminum giant UC RUSAL until December 12 on Friday.

The deadline for termination of contracts with GAZ Group remained on October 23.

RUSAL shares and Global Depositary Receipts of En+ rose on the news.

On April 6, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including En+ Group, GAZ Group, Basic Element, and RUSAL. The implementation date for En+ Group and RUSAL was postponed several times.

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