US says postpones sanctions against GAZ Group anew, to March 31

WASHINGTON, Nov 5 (PRIME) -- The U.S. Treasury Department has prolonged the postponement of sanctions against Russia’s GAZ Group to March 31, 2020, according to a document published on November 1.

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 excluded En+ Group, RUSAL, and power producer EuroSibEnergo from 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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