The United States gave its investors until May 7 to sell shares of Russian companies
The US Treasury Department has ordered American investors to dispose of shares and other securities of three of the 7 Russian companies against which sanctions were imposed on Friday by May 12, a PolitNavigator correspondent reports.
This is stated in a statement released by the Office of Foreign Assets Control of the US Treasury.
Investors from the United States “need to dispose of shares and other assets of the En+ group, GAZ Group and the United Company Rusal by sale or assignment of rights to non-American individuals and legal entities by May 7, 2018,” the management noted. The Ministry of Finance also obliged these investors to submit a detailed report within 10 working days after May 7, which specific shares were sold to whom and when.
U.S. individuals and entities “have until June 5, 2018 to wind down transactions, contracts or any other agreements, including those relating to the import of goods, services or technology into the United States,” with the 12 sanctioned companies, as well as “with other entities , in which a 50% share is directly or indirectly owned by these 12 companies,” the management added.
The statement identifies the Kuban agricultural holding, Basic Element, B-Finance, En+ Group, Eurosibenergo, GAZ Group, Gazprom Burenie, Ladoga Management, NPV Engineering, Renova, Russian Machines. , United Company "RUSAL".
On Friday, Washington imposed sanctions against seven of Russia's largest entrepreneurs, 17 government officials and heads of state corporations, as well as against 12 private companies and two government agencies. According to the explanations of the Ministry of Finance, the assets of all 24 listed citizens and 14 organizations, if any are in the jurisdiction of the United States, are subject to freezing. Americans are now prohibited from maintaining any business relations with those on the list.
The US has given its investors until May 7 to sell shares of Russian companies.