US grants more time to wind down business with Rusal

WASHINGTON: Americans engaged with United Company Rusal PLC have until Oct. 23 to wind down their business with the aluminum giant amid US sanctions, the US Treasury Department said on Monday in a statement extending the time period.

US Treasury Secretary Steven Mnuchin said the department was weighing RUSAL's petition for delisting, adding: "Given the impact on our partners and allies, we are issuing a general license extending the maintenance and wind-down period while we consider RUSAL's petition."