World, Economics

 U.S. Treasury gives investors another month to retrieve funds from Russian companies

The Office of Foreign Assets Control (OFAC) of the US Treasury Department has extended for one month the term for investors to terminate any business activity with a number of Russian companies, including En+Group, GAS Group and RUSAL.

As reported by Censor.NET, this is stated in the General License No. 13A released on Tuesday, May 2.

The document in particular says that non-U.S. persons are authorized through 12:01 a.m. eastern daylight time, June 6, 2018 to all transactions and activities necessary to divest or transfer debt, equity, or other holdings in En+Group, GAS Group and United Company RUSAL PLC blocked by the Ukraine Related Sanctions Regulations, 31 C.F.R. part 589; or to facilitate the transfer of debt, equity, or other holdings in the said blocked persons.

The same applies to Russia's Irkutskenergo, GAZ and Rusal Designates Activity Company that were not listed in the previous license No. 13 of April 6.

On April 6, the Office of Foreign Assets Control OFAC added 15 Russian entities and 24 nationals into the Ukraine Related Sanctions list.

As a result, Russia's richest oligarchs lost $12 bln in one day, Forbes wrote.

The sanctions also weakened the ruble as Russia's stock market saw the deepest drop since March 2014.

Источник: https://censor.net.ua/en/n3064113