Ukraine has seized the assets of Russian oligarch Deripaska — what is known
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Ukraine
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Ukraine has seized the assets of Russian oligarch Deripaska — what is known

Security Service of Ukraine (SSU)
Deripaska

In Ukraine, a court has seized "new" assets of Russian oligarch Oleg Deripaska - a large batch of industrial products and raw materials worth UAH 2.11 billion.

Points of attention

  • Ukraine has seized assets of Russian oligarch Oleg Deripaska, including a significant amount of bauxite and alumina crucial for aluminum production at his plants in Russia.
  • Deripaska was placed under sanctions in Ukraine in mid-October 2022, leading to legal actions to recover his assets to the state.
  • The Supreme Anti-Corruption Court in Ukraine granted the Ministry of Justice's claim to transfer enterprises owned by Deripaska to state ownership in February 2023.
  • The Security Service of Ukraine reported the suspicion of Deripaska for supplying raw materials for the production of Iskander missiles to Russia, leading to the detention of his top managers.
  • The European Union Court rejected the claims of Deripaska and his affiliated banks challenging sanctions imposed against them in connection with Russia's aggression in Ukraine.

Oligarch Deripaska's property seized in Ukraine

The Security Service informs about this.

This concerns almost 500 thousand tons of bauxite and alumina, which was produced in our country even before the full-scale invasion. They were stored in the warehouses of the Mykolaiv Alumina Plant, which previously belonged to a Russian. The total value of the seized assets is over 2.11 billion UAH.

It is noted that the seized products were the main component for aluminum production at Deripaska's Rusal plants in the Russian Federation.

According to the case materials, the Russian oligarch owned bauxite and alumina through a controlled commercial structure registered in one of the EU countries.

It was this company that acted as the formal customer for the products of the Nikolaev plant for further re-export to Deripaska's Russian enterprises.

Ukrainian law enforcement officers uncovered the deal and blocked the shipment of this raw material in early 2023.

Sanctions against Deripaska in Ukraine: what is known

In mid-October 2022, Deripaska was placed under sanctions in Ukraine by the decision of the National Security and Defense Council.

On January 10, 2023, the Ministry of Justice announced that it had applied to the Supreme Court of Justice with a request to recover Oleg Deripaska's assets to the state.

On February 16, 2023, based on materials from the SBU, the Supreme Anti-Corruption Court granted the claim of the Ministry of Justice regarding the transfer of enterprises owned by Russian oligarch Oleg Deripaska to the state ownership of Ukraine.

In February 2024, the Security Service of Ukraine reported on the suspicion of Deripaska and detained his top managers in Ukraine, who were supplying raw materials for the production of Iskander missiles to the Russian Federation.

At the end of 2024, the European Union Court in Luxembourg rejected claims by Russian businessman Oleg Deripaska, Rosbank, and Tinkoff Bank, which challenged sanctions imposed against them in connection with Russia's aggression in Ukraine.

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