US gives more time for divestment from sanctioned Russian company GAZ

WASHINGTON: The US Treasury said on Wednesday it was extending by four months the deadline for investors to divest from Russian automaker GAZ, a company linked to Russian tycoon Oleg Deripaska that Washington sanctioned over Russia's "malign activity."

The US Treasury's Office of Foreign Assets Control said in a statement that it would allow investors and businesses until July 6 to cut ties with GAZ. The previous deadline was March 7.