OREANDA-NEWS. Oleg Deripaska’s GAZ Group will have to provide the US Treasury Department with financial reports and data on the board of directors at the end of each quarter, as well as prove that the owner of the company is not involved in management. Under these conditions, the Office of Foreign Assets Control (OFAC) of the US Treasury gave a new delay for another 6 months to impose sanctions against the Russian automaker. During this time, the parties will again try to agree on the withdrawal of the company from the US blacklist.

As follows from the instructions the text of the license, GAZ, within 5 days after the close of each quarter, must provide the American agency with financial statements and minutes of board meetings, reports on the composition of the board and changes in it.

The same scheme will apply to financial agreements of GAZ worth more than 5 million US dollars.

In addition, the company must confirm to the OFAC that it is not acting on behalf of Deripaska or other persons included in the sanctions lists, and that the company is controlled solely with the board of directors and shareholders.