The United States has extended until July 22 the period during which businesses can conduct limited transactions with Russia's GAZ Group without risking sanctions, the Treasury Department's Office of Foreign Assets Control said in a notice on Friday
WASHINGTON (Pakistan Point News / Sputnik - 20th March, 2020) The United States has extended until July 22 the period during which businesses can conduct limited transactions with Russia's GAZ Group without risking sanctions, the Treasury Department's Office of Foreign Assets Control said in a notice on Friday.
"All transactions and activities otherwise prohibited by the Ukraine Related Sanctions Regulations, 31 C.F.R. part 589, that are ordinarily incident and necessary (1) to divest or transfer debt, equity, or other holdings in GAZ Group to a non-US person, or (2) to facilitate the transfer of debt, equity, or other holdings in GAZ Group by a non-US person to another non-US person, are authorized through... July 22," the notice said.
The previous deadline for cutting ties with GAZ Group was March 31.
