Posted 17 февраля 2023,, 07:20

Published 17 февраля 2023,, 07:20

Modified 17 февраля 2023,, 08:34

Updated 17 февраля 2023,, 08:34

Ukraine nationalized Oleg Deripaska's companies for 270 million dollars

Ukraine nationalized Oleg Deripaska's companies for 270 million dollars

17 февраля 2023, 07:20
The assets of Russian billionaire Oleg Deripaska (pictured) worth over 10 billion hryvnia (about $ 270 million) will become the property of Ukraine by the decision of the Supreme Anti-Corruption Court of the republic.

According to the claim of the Ministry of Justice of the country, 350 objects will be transferred to the state property of Ukraine, including the Mykolaiv Alumina Plant, Glukhovsky quarry of quartzites, Khustkiy quarry, Zhezhelovsky quarry and other companies.

The Security Service of Ukraine (SBU) stated that the billionaire Deripaska, who was under sanctions, close to the "military-political leadership of Russia," owned property on the territory of Ukraine through controlled commercial structures, trying to hide his involvement in doing business in the republic.

In support of the claim, arguments were given that the aluminum producer UC Rusal, founded by Deripaska, allegedly supplies metal to the enterprises of the Russian defense complex, writes Forbes.

After the outbreak of hostilities on In Ukraine in 2022, UC Rusal suspended production at the Mykolaiv Alumina Plant, citing the occurrence of "unavoidable logistical and transport problems" provoked by the conduct of its own.

Deripaska, who was sanctioned by the United States, the EU, the United Kingdom and a number of other countries, has since 2018 reduced his share of ownership of UC Rusal below the control one in order to withdraw the company from sanctions.

Earlier, Deripaska had already sued the government of Montenegro after the authorities of that country, following the bankruptcy of one of the plants, nationalized the Podgorica Aluminum Plant and the Niksic Bauxite Mine, whose controlling stakes the billionaire had owned since 2005. In 2019, the International Arbitration Court rejected Deripaska's claim and imposed on the billionaire the obligation to reimburse Montenegro's court costs.