Economics
U.S. Gives Rusal Investors More Time But Keeps Deripaska on Hook
- Treasury extends deadline for Rusal, En+ investors to sell out
- En+’s plea to temporarily lift sanctions wasn’t granted
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The U.S. Treasury Department gave investors more time to sell their shares and debt in En+ Group Plc and affiliate, United Co. Rusal, but stopped short of removing the aluminum and power companies from a sanctions list targeting Russian billionaire Oleg Deripaska.
The deadline for investors to sell their shares and debt in En+ and Rusal was extended to Oct. 23 from Aug. 5, the Treasury’s Office of Foreign Assets Control, or OFAC, said in a statement on Tuesday. The decision suggests further negotiations are needed before making progress on lifting sanctions, after OFAC shunned a request by En+ and its lobbyist Mercury LLC to temporarily withdraw the company and Rusal from the list.
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U.S. Gives Rusal Investors More Time But Keeps Deripaska on Hook