US Treasury Department revealed truth of sanctions against Oleg Deripaska

The true reasons for imposing sanctions, approved in April 2018, against a Russian billionaire Oleg Deripaska became known. All the restrictions were turned out to be connected with Russian President Vladimir Putin, The Bell reported.

The sanctions against Deripaska and the companies ruled by him took into force on April 6, 2018. The shares of the major one UC Rusal once dropped on the Hong-Kong stock exchange. The sanctions became a threat to the international business of UC Rusal: until 2018 the company had worked on the export under the temporary OFAC’s permission.

In early 2019, the Department of the Treasury dropped the sanctions from the three companies of Deripaska, such as En+, UC Rusal and EuroSibEnergo, but not the billionaire himself. To achieve that he had to refuse to rule the business.

Oleg Deripaska’s defense sent a letter to the Office of Foreign Assets Control (OFAC) of the US Treasury Dept with the request of revealing grounds for sanctions. In the reply, the Treasury Dept noted that the restrictions are connected with the unlawful activities of the billionaire in the interests of Vladimir Putin.

The exposed grounds include the six items each of which is noted in writing without any documental approval.

  • Deripaska among other oligarchs funded $800 mln in the Sochi Olimpic projects as a request of Putin.
  • As of the beginning of 2018, Deripaska carried out financial projects under Putin’s orders and supreme leader of Russia.
  • As of September 2017, Deripaska canceled IPO of his company “GAS” in order to conceal the laundering Putin’s money through it.
  • In December 2016, Deripaska was called as an individual who managed the shares and laundered money in Putin’s interests.
  • In July 2017 and earlier, Deripaska carried out the transactions od money for his own use then-premier minister Putin at least twice on the guise of business operations.
  • At the end of 2004, on behalf of Putin, Deripaska participated in the meeting of the top representatives of Russia and Kyrgystan.

President’s spokesperson Dmitry Peskov commented on the situation:

Dmitry Peskov
Dmitry Peskov
Press Secretary for the President of Russia, Vladimir Putin
“It’s a lie. All of that.”

Oleg Deripaska
Oleg Deripaska
Russian entrepreneur, philanthropist, chairman of the Supervisory Board, founder of the Basic Element company, former manager of combined company Rusal and En+ Group
“They do not present facts – only guess, rumours and gossips. It is groundless allegations. It is complete nonsense instead of the presumption of innocence until the reverse establishment by the court.”

Concerning the latest allegation, Deripaska made it clear that it must have been said about the failure of UC Rusal project in Kyrgystan, the development of which was making up in 2003. In his words, one of the representatives of American diplomacy heard a piece of information and just spread rumours. He added that if someone thought to bring such information to the court of London, the judge would get him out.

Deripaska’s sue the OFAC in Washington, trying to prove that the decision about the sanctions against him was not supported with facts. The publication of the grounds for the sanctions is one of the first steps of the proceeding. In Deripaska’s opinion, the judgment is likely to come out in a year and a half.


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