US Extends Sanctions Relief For Russian Entities

The Office of Foreign Assets Controls (OFAC) has issued General License (GL)13B to provide additional time for divestment of interests in En+ Group, Gaz Group, and United Company Rusal (the Companies).

The Companies were designated as Specially Designated Nationals (SDNs) on April 6, 2018 for being directly or indirectly owned or controlled by Oleg Deripaska, who was designated the same day.  Concurrent with such designations, OFAC issued GL 13, which provided sanctions relief until May 7 for certain activities related to divestment of interests in the Companies.  On May 1 OFAC issued GL 13A to extend such relief until June 6, and on May 31 GL 13B extended the relief until August 5.  The sanctions relief under GL 13B also applies to certain entities owned 50% or more by the Companies.