March 6, 2019 / 6:43 PM / 19 days ago

U.S. gives more time for divestment from sanctioned Russian company GAZ

WASHINGTON, March 6 (Reuters) - The U.S. Treasury said on Wednesday it was extending by four months the deadline for investors to divest from Russian automaker GAZ, a company linked to Russian tycoon Oleg Deripaska that Washington sanctioned over Russia’s “malign activity.”

The U.S. Treasury’s Office of Foreign Assets Control said in a statement that it would allow investors and businesses until July 6 to cut ties with GAZ. The previous deadline was March 7. (Reporting by Tim Ahmann; Writing by Mohammad Zargham)

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