May 22, 2018 / 6:14 PM / 10 months ago

U.S. to let Americans used blocked funds to wind down sanctioned GAZ Group assets

WASHINGTON, May 22 (Reuters) - The U.S. Treasury said on Tuesday it was authorizing Americans to use previously blocked funds if needed until Oct. 23 to wind down operations and contracts involving sanctioned Russian vehicle maker GAZ Group and its subsidiaries.

In a "frequently asked questions" list on its website, the Treasury said funds would remain blocked by U.S. sanctions if they were not being directed to maintenance or wind down activities.

GAZ was hit with U.S. sanctions on April 6. (Reporting by Tim Ahmann, editing by David Alexander)

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