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U.S. sanctions preventing VW buying stake in Russian automaker GAZ - report

By REUTERS

MARCH 6, 2019 17:08

MOSCOW - Volkswagen cannot buy a stake in Russian automaker GAZ because the company is under US 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 US sanctions last year. In December, the US Treasury extended a deadline for investors to divest from GAZ to March 7.

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