A Ukrainian court has frozen assets worth 2.11 billion hryvnias or approximately $50 million belonging to Russian oligarch Oleg Deripaska, Radio Liberty reports. The seized assets comprise a large batch of industrial products and raw materials stored at the Mykolaiv Alumina Plant, which was previously owned by Deripaska.
According to Ukraine’s Security Service (SBU), the court arrested nearly 500,000 tons of bauxite and alumina that were produced before the Russian invasion.
“These materials were the main component for aluminum production at Oleg Deripaska’s Russian Rusal plants,” the SBU stated.
The SBU reports that Deripaska owned these assets through a controlled commercial entity registered in an EU country. This company acted as a formal customer of the plant’s products for subsequent reexport to Deripaska’s Russian enterprises. Ukrainian law enforcement blocked the raw materials’ shipment in early 2023.
The SBU claims that Deripaska is involved in manufacturing products for Russia’s military-industrial complex, stating his factories “produce components for Iskander ballistic missiles, combat drones, and radar systems.“
In February 2024, the SBU formally notified Deripaska in absentia of his suspect status under seven criminal articles, including financing actions aimed at overthrowing the constitutional order or seizing state power, or changing Ukraine’s state border.
Related:
- Politico: Ukraine hopes Putin’s behavior will turn Trump against Russia
- ISW: Russian economy shows distress signs despite Kremlin’s strong-year-for-economy claims
- Barbados and Panama to remove flags from 114 Russian shadow fleet tankers
- The Telegraph: If frozen Russian assets don’t go to Ukraine, Europe will face migration crisis and attack on the Baltics
- FT: EU eyes Belgian king as Hungary threatens to block Russia sanctions renewal
- LRT: German duty-free operator continues luxury goods supply to Russia
- Sanctioned Russian billionaires continue to profit despite restrictions
- Ukraine seizes USD 870,000 of sanctioned Russian oligarch Deripaska