Contents tagged with Vekselberg

  • Russia threatens to boycott Davos

    On Tuesday, during his visit to Italy, Russia’s Prime Minister Dmitry Medvedev announced that Russia would boycott the World Economic Forum in Davos, if the head of VTB, Andrey Kostin, co-owner of Rusal, Oleg Deripaska, and the main shareholder of the Renova group, Viktor Vekselberg, are not allowed to come to the conference.

    The Davos forum leadership’s decision, requesting Russians that are under the sanctions not to come to the conference is "very strange," said Medvedev.

    “If these …

  • 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 …

  • Banks of Cyprus allow Russians to withdraw funds from frozen accounts

    Cypriot banks froze the accounts of Russians on the US’s Specially Designated Nationals and Blocked Persons (SDN) sanction list, but the account owners were also permitted to transfer funds to their own accounts in Russia, reports Russian RBC news agency, citing Costas Demetriades, Managing Director of the Cypriot consulting firm B2B Lateral Thinking Solutions, and confirmed by Paragon Advice Group partner Alexander Zakharov. “As far as I know, unlike Switzerland, the Cypriot banks released the …

  • Russian oligarchs’ assets frozen in Cyprus at US’s request

    The Russian billionaires who have been placed under US sanctions have been hit by massive audits of their offshore accounts.

    Oleg Deripaska and Viktor Vekselberg, who were blacklisted by the US Treasury Department in April, have been cut off from their assets in Cyprus.

    The island’s banks have frozen Deripaska’s and Vekselberg’s accounts since April 6, when the US sanctions were announced and came into effect. This was reported by RBC, citing the US Treasury Department’s report on opposing …