Ukraine nationalized the assets of Russian oligarch Deripaska worth 2 billion hryvnias

Ukraine nationalized the assets of Russian oligarch Deripaska worth 2 billion hryvnias

The High Anti-Corruption Court has granted permission for the nationalization of the assets of Russian oligarch Oleg Deripaska, who is under sanctions.

This was reported by the Office of the Prosecutor General of Ukraine.

It concerns nearly 500,000 tons of bauxite and alumina produced in Ukraine even before Russia’s full-scale invasion in 2022. This product was stored in the warehouses of the Mykolaiv Alumina Plant, which previously belonged to Deripaska.

This product is the main component for producing aluminum at Oleg Deripaska’s Russian plants, "Rusal." The oligarch controlled it through a subsidiary registered in one of the EU countries. It is used to manufacture components for ballistic missiles, military drones, and radar systems.

This company formally acted as the customer for the Mykolaiv plant’s products with the aim of further re-export to Deripaska’s Russian enterprises. However, in early 2023, Ukrainian law enforcement discovered this scheme and blocked the shipment of this raw material.

Oligarch Oleg Deripaska is part of the inner circle of Russian leader Vladimir Putin. He is involved in producing goods for Russia’s military-industrial complex. In particular, his plants manufacture components for "Iskander" ballistic missiles, military drones, and radar systems.

Investigators have remotely informed Deripaska of suspicion, particularly regarding financing Russia’s war against Ukraine. Furthermore, all his plants have been nationalized in Ukraine.