Contents tagged with Deripaska

  • Russian billionaire Deripaska stripped of Cyprus citizenship

    The billionaire Oleg Deripaska, who became one of the 10 wealthiest people in Russia in the early 2010s and came under personal US sanctions last year, has been stripped of his Cypriot citizenship.

    After auditing its “citizenship for investment” program, in which one can “buy” a passport by investing €2 million in the island’s economy, the government of Cyprus has revised its decision regarding 26 individuals.

    As reported by Vedomosti, citing the Cypriot mass media, in addition to Deripaska, …

  • Deripaska’s Rusal confirms plans to reregister in Russia

    UC Rusal has confirmed its plans to reregister in Russia, reports RBC news agency reference with reference to a company spokesperson.

    As announced earlier at the St. Petersburg International Economic Forum by Russian Deputy Minister of Economic Development Ilya Torosov, the company intends to reregister in Kaliningrad, Russia.

    In August last year, the company announced that it was considering changing its jurisdiction from Jersey Island (one of the world’s largest offshore havens) to Russia. …

  • Russian oligarch Deripaska complains of billions lost due to US sanctions

    The Russian oligarch Oleg Deripaska has lost billions as a result of US sanctions on himself and the companies he controls. The damage from these sanctions is in excess of $15 billion, Deripaska said in a statement.

    These losses have been suffered by “investors, suppliers and clients of En+, Rusal and the GAZ Group” according the statement published on Deripaska’s website. The sanctions have “ruined a person’s life and business, and put hundreds of thousands of people at risk, including staff …

  • Russian oligarch Deripaska offers $600,000 reward to journalists who investigate sanctions against him

    The oligarch Oleg Deripaska’s lawyers plan to set up a 600 thousand dollars reward for journalists who will investigate why the United States imposed sanctions against the Russian businessman, writes The Financial Times, citing its own sources.

    According to the international daily newspaper, Deripaska, the founder of one of Russia's largest industrial groups, intends to refute the charges, which the United States used to impose restrictive measures against him.

    “Congress craves more blood ... …

  • Russian tycoon Oleg Deripaska sues the US Treasury Department and Secretary Steven Mnuchin

    Russian billionaire Oleg Deripaska intends to make US authorities cancel the personal sanctions against him through the courts. The businessman intends to sue the US Treasury Department and Secretary Steven Mnuchin for damages equal to $7.5 billion in estimated losses.

    Deripaska’s lawsuit appeared in the US judicial database and was referred to the Court of the District of Columbia. Deripaska stated that he was included in the US sanctions as a result of the political struggle over Russia's …

  • US Treasury Department lifts sanctions from three Deripaska companies

    On Sunday, the US Treasury Department announced that it was lifting the sanctions previously imposed on three companies associated with Russian oligarch Oleg Deripaska: US Rusal PLC, En + Group PLC and JSC EuroSibEnergo.

    The decision was made despite the demands of Democrats in Congress to keep the restrictions imposed on these companies. Earlier, Republican legislators who hold the majority in the Senate blocked an attempt to keep the sanctions in effect.

    According to the administration, …

  • European ambassadors urge US to lift sanctions from Deripaska’s companies

    European diplomats in the US have called for En+ and Rusal, two companies belonging to the Russian tycoon Oleg Deripaska, to be removed from the sanctions list, according to a letter to Chuck Schumer, leader of the democratic minority in the US Senate. 

    The document, which was published by the European foreign policy service on Friday, January 11, was authored by ambassadors from Austria, Germany, Ireland, Italy, the UK, France and Sweden, Deutsche Welle reports. 

    The authors believe that …

  • US imposes new sanctions on Russia

    The US Treasury’s Office of Foreign Assets Control (OFAC) has decided to impose new sanctions on Russia in response to Russia’s constant disregard for international laws, the department announced in a press release on December 19.

    The OFAC announced new restrictions on a former officer of Russia’s Main Intelligence Directorate (GRU) who acted in the interests of Russian oligarch Oleg Deripaska.

    The new sanctions also affect 15 GRU staff members for a wide range of criminal activity, including …

  • Russian oligarchs forced to leave offshore havens

    With three months of sanctions, the Donald Trump Administration has managed to do something which the Russian government has been unable to do for the last 27 years: stop Russian money from flowing into offshore accounts. finanz.ru reports.

    Since the tightening of sanctions in April, which was accompanied by a mass audit of Russians’ accounts in Cyprus, the freezing of Oleg Deripaska’s and Viktor Vekselberg’s assets, and the elimination of the Baltic “laundromat” for laundering Russian money, …

  • Three Russian oligarchs asked to stay away from Davos

    VTB Bank CEO Andrey Kostin, Rusal co-owner Oleg Deripaska and Renova Group major shareholder Viktor Vekselberg will not be allowed to attend the World Economic Forum in Davos this year.

    All three of the Russian oligarchs, who are under personal US sanctions, were contacted by the forum’s management and asked not to come to the town in eastern Switzerland where officials and representatives of the largest companies in the world have been gathering since 1971.

    Last year, Vekselberg, Kostin and …