U.S. extends deadline to divest from Russian company GAZ

The U.S. Treasury said on Wednesday that it was extending by four months the deadline for investors to divest from Russian automaker GAZ, a company linked to Russian tycoon Oleg Deripaska that Washington sanctioned over Russia's "malign activity."

The U.S. Treasury's Office of Foreign Assets Control said in a statement that it would allow investors and businesses until July 6 to cut ties with GAZ. The previous deadline was March 7.