May 31, 2018 / 6:24 PM / 2 years ago

U.S. Treasury extends time to divest from EN+, Gaz Group, Rusal

Aluminium ingots which were made at the Rusal Krasnoyarsk aluminium smelter are seen in this illustration taken May 25, 2018. Picture taken May 25, 2018. REUTERS/Ilya Naymushin/Illustration

WASHINGTON (Reuters) - The U.S. Treasury Department said on Thursday it has extended the deadline for investors to divest holdings in companies covered by Russian sanctions, including EN+, Gaz Group and Rusal to Aug. 5, from June 6.

The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and the eight companies in which he is a large shareholder, including giant aluminium exporter Rusal, in response to what it called “malign activities” by Russia.

Deripaska controls 66 percent of En+, which in turn controls 48 percent of Rusal.

Reporting by Timothy Ahmann; Editing by Jeffrey Benkoe

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