June 26, 2019 / 3:37 PM / 5 months ago

U.S. extends divestiture deadline for sanctioned Russian firm GAZ

WASHINGTON (Reuters) - The U.S. Treasury said on Wednesday it was giving investors another four months to divest from Russian automaker GAZ, a company linked to Russian tycoon Oleg Deripaska that Washington sanctioned over Russia’s “malign activity.”

The U.S. Treasury’s Office of Foreign Assets Control said it would allow investors and businesses until November 8 to cut ties with GAZ. It also said it would permit activities needed to maintain or wind down existing contracts with GAZ until then.

The previous deadlines were July 6.

Reporting by Tim Ahmann; Editing by Chizu Nomiyama

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