The GAZ group of Oleg Deripaska will have at the end of each quarter to provide the U.S. Treasury financial reports and data to the Board of Directors, as well as to prove that the owner of the company is not involved in management. In such circumstances, the office of foreign assets control of the U.S. Treasury (OFAC) gave a new delay for another six months to impose sanctions against Gas. During this time, the parties will again try to agree on the withdrawal of the company from the blacklist of the United States.OFAC disclosed deferred until January 22, 2021 sanctions and extending the sale of shares and transactions with GAZ group, controlled by Oleg Deripaska. As follows from published on the eve of the instructions and the text of the license, the automaker within five days after the close of each quarter must provide to the U.S. Treasury financial reports and minutes of meetings of the Board of Directors reports on the composition of the Board and changes in it, and lists any planned and created new joint ventures.In addition, the company shall within five days after the end of each month for OFAC to confirm that it is not acting on behalf of businessman Oleg Deripaska or other persons from sanctions lists, and that the control of the company is vested solely in the Board of Directors and its shareholders.The US imposed sanctions against Oleg Deripaska, GAZ group and 23 Russians and 14 companies in April 2018. Then, the U.S. Treasury withdrew until 7 may 2018 to American investors got rid of shares and debt instruments of companies from the black list, and until June 5 to severed contracts with them. But then the deadline was prolonged several times, last on July 16. During the new delay is expected to agree on the withdrawal of Gas from the OFAC measures. In January 2019 from the sanctions list already struck En+ Group and under its control, “RUSAL” and “EuroSibEnergo” after Oleg Deripaska, has reduced its stake in the asset is below 44,95%, and also resigned from the Board of Directors. At the same time, the businessman reported that the now active negotiations with group GAS side are not.Olga Modulecatalog Deripaska in March filed a lawsuit in Federal court against the U.S. Treasury. In the lawsuit Mr. Deripaska argued that it imposed personal sanctions the US was unjust and illegal, and he was the “last victim” of the political struggle in the United States. The lawsuit also States that due to sanctions Oleg Deripaska has lost $7.5 billion. the Lawsuit was filed after the end of last year, the main assets of Mr. Deripaska, RUSAL and En+ have been derived from the sanctions, as the businessman agreed to give up control over them.Read more