October 12, 2018 / 1:11 PM / 2 months ago

U.S. gives sanctioned Russian companies more time to tackle operations

WASHINGTON, Oct 12 (Reuters) - The United States on Friday said it was allowing additional time for sanctioned Russian companies EN+ <ENPLq.L > and Rusal to address their business operations through Dec. 12.

“EN+ and RUSAL have approached the U.S. Government about substantial corporate governance changes that could potentially result in significant changes in control. As the review of these proposals is ongoing, OFAC is extending the expiration date of related licenses until December 12,” the U.S. Treasury Department said in a statement. (Reporting by Susan Heavey; Editing by Bernadette Baum)

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