Volkswagen unable to buy stakes in GAZ, in light of US sanctions

Volkswagen cannot buy a stake in Russian automaker GAZ because the company is under U.S. sanctions and talks on a deal have been suspended, the RIA news agency cited the head of the Russian office of Volkswagen as saying on Wednesday. GAZ was placed under U.S. sanctions last year. In December, the U.S. Treasury extended a deadline for investors to divest from GAZ to March 7.