U.S. postpones sanctions deadline on Russian tycoon's firms
Source: Reuters
WORLD NEWS NOVEMBER 9, 2018 / 2:00 PM / UPDATED 40 MINUTES AGO
WASHINGTON (Reuters) - The United States on Friday said it was postponing the enforcement of sanctions on Russian companies EN+ <ENPLq.L >, Rusal and Gaz PAO for nearly four weeks as their top shareholder works on a plan to cut his stakes.
The U.S. Treasury Department had given Russian tycoon Oleg Deripaska until Dec. 12 to reduce his holdings in the three companies but said in a statement that the deadline had been moved to Jan. 7, 2019.
EN+, RUSAL, and GAZ are proposing substantial corporate governance changes that could potentially result in significant changes in control of these sanctioned entities, Treasury said in a statement explaining why the deadline was postponed. Rusal, En+ and GAZ declined to comment.
The U.S. Treasury imposed the sanctions in April on Deripaska and several companies in which he is a large shareholder, citing malign activities by Russia, as well as allegations of past crimes by Deripaska himself.
Read more: https://www.reuters.com/article/us-usa-russia-sanctions/u-s-extends-deadline-for-sanctioned-russian-firms-to-january-idUSKCN1NE2BO?il=0
flibbitygiblets
(7,220 posts)Is this from the onion? IS this for real?
pecosbob
(7,538 posts)there is no law in this world...there is only being wealthy. The sanctions were created to target the person, not the freaking companies.
kacekwl
(7,016 posts)equal 4 years . Of course by then we will have forgotten.
PeeJ52
(1,588 posts)his stakes in the companies so tRump can say they no longer have to sanction them. This is one of Donnie's paybacks from the election... They know how to move the money around... They'll probably buy out Deripaska's share with billions, he'll step down, and they'll promote an obscure "cousin" of his to the board of directors.