US GIVES RUSSIAN VAN-MAKER GAZ MORE TIME TO COMPLY WITH SANCTIONS

On 23^rd May, Rferl reported that the US has given US customers of Russian van manufacturer GAZ more time to wind down business with the company in the latest softening of sanctions against GAZ owner, Oleg Deripaska.  With new licences and FAQ published, US customers of GAZ will now have until October 23^rd (instead of June 5^th) to wind down operations and contracts with GAZ.  It also said it would consider lifting the sanctions against GAZ altogether if Deripaska cedes control of the company.  GAZ declined to comment.

https://www.rferl.org/a/us-gives-russian-van-maker-gaz-more-time-comply-sanctions-rusal-deripaska-mnuchin/29244557.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017