US Reduces Extension of General Licenses for Russia's Gaz Group - Reports
WASHINGTON (Pakistan Point News / Sputnik - 25th January, 2022) The US Treasury Department reduced extension of general licenses for Russia's Gaz group, Reuters reported on Monday, citing a senior Treasury official.
The licenses, previously issued for one year, can be extended for only 90 days starting next Wednesday, the official said.
The United States imposed sanctions on the GAZ Group last April, but has since issued several general licenses allowing US investors to continue conducting limited transactions with the Russian auto-maker.
The GAZ Group is part of Russian businessman Oleg Deripaska's business empire. The United States targeted the automaker along with Deripaska's companies Rusal and EN+ Group over what Washington has described as Russia's "malign activities" in Ukraine.