US says delays sanctions against GAZ Group anew, till July 22

WASHINGTON, Mar 20 (PRIME) -- The U.S. Treasury Department has again prolonged the postponement of sanctions against Russian carmaker GAZ Group until July 22, the authority said in a document published on Friday.

On April 6, 2018, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including multi-industry holding En+ Group, GAZ Group, holding Basic Element, and aluminum giant UC RUSAL.

The authority relieved En+ Group, RUSAL, and power producer EuroSibEnergo of the sanctions in January 2019 after key shareholder Oleg Deripaska reduced his stake in En+ Group to less than 44.95%. But the tycoon and GAZ Group, which he controls through Russian Machines, remained on the blacklist. Nevertheless, the sanctions were postponed several times.

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