US Sanctions relating to Russia – Winding down period extended to 21 January 2019

13 December 2018

Members will be aware of the Club’s recent News Alert concerning the extension of time to wind down operations and contracts with Rusal, EN+ or GAZ Group until 7 January 2019 (click here).

Members should note that the US Department of the Treasury’s Office of Foreign Assets Control has further extended the expiration of the relevant licences and Members should now ensure that any transactions with these companies and their subsidiaries are wound down by 21 January 2019.

A copy of the US Department of the Treasury’s press release is available here.