Russian Sanctions – Rusal - Further Extension

Further to our News Item of 25 April 2018 regarding the issuance of two OFAC licences which allow parties a wind-down period to terminate their dealings with the major Russia aluminium trader Rusal, Members may wish to note that this period has been extended slightly and will now cease on 12 November 2018.

The U.S. Department of Treasury press release announcing the extension can be found here OFAC Extends Expiration Date of General Licenses Related to EN+ and RUSAL and a helpful Client Alert published by the Club's U.S. attorneys Freehill Hogan & Mahar can be found here U.S Extends Deadline For Rusal Wind-Down Period.

As always, Members with specific questions concerning these measures and any other sanctions matters should contact the Managers.