WASHINGTON - 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 extension gives Deripaska more time to lower his stake in GAZ, potentially allowing the company to be removed from the U.S. sanctions list.On Jan. 27, the Treasury lifted sanctions on Deripaska’s aluminum and energy businesses Rusal, its parent En+ and EuroSibEnergo after they had agreed to restructure to reduce his stakes.
When the Treasury announced the sanctions in April 2018, it also said “Deripaska has been investigated for money laundering, and has been accused of threatening the lives of business rivals, illegally wiretapping a government official, and taking part in extortion and racketeering.” It has a contract manufacturing relationship with Germany’s Daimler AG on LCV production in Russia, and Volkswagen AG uses GAZ facilities to produce some passenger car models in Russia.
Wilbur Ross?
Why should we wait? Doing it so doesn't incure a financial loss!! Oligarchs don't pay.