Economics
Deripaska Says His Car Group May Go Bankrupt Under Sanctions
- “It might go bankrupt and may be nationalized," Deripaska says
- GAZ Group is the biggest commercial automaker in Russia
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Oleg Deripaska, the Russian billionaire under U.S. sanctions, said his car business GAZ Group may not survive if the company isn’t removed from the American blacklist.
He said there are currently no talks with U.S. Office of Foreign Assets Control over the terms of lifting the sanctions since the company, Russia’s largest commercial carmaker, filed a proposal in October.