US Extends Deadline For Divestment From Russian Gaz Group Until December 12 - Treasury

Fakhir Rizvi Published October 19, 2018 | 08:57 PM

The United States has extended until December 12 the deadline for businesses to divest or transfer debt holdings from Russia's sanctioned GAZ Group, the US Treasury Department's Office of Foreign Assets Control (OFAC) said in a new notice on its website on Friday.

WASHINGTON (UrduPoint News / Sputnik - 19th October, 2018) The United States has extended until December 12 the deadline for businesses to divest or transfer debt holdings from Russia's sanctioned GAZ Group, the US Treasury Department's Office of Foreign Assets Control (OFAC) said in a new notice on its website on Friday.

"All transactions and activities otherwise prohibited by the Ukraine Related Sanctions Regulations... involving GAZ Group or any other entity in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest and that were in effect prior to April 6, 2018, are authorized through 12:01 a.m. eastern standard time, December 12, 2018," the Treasury Department said.