Deripaska sues the United States Department of the Treasury over sanctions

Deripaska sues the United States Department of the Treasury over sanctions
Oleg Deripaska

The oligarch's net capital decreased by 81 percent after he was blacklisted.

Russian billionaire Oleg Deripaska has filed a lawsuit with the Federal Court of Washington against the United States Department of the Treasury with the requirement to exclude him from the sanction list. The connections with the criminal underworld and the Kremlin of which Deripaska is accused are not supported by evidence and based on rumors, the lawsuit says. The oligarch had to step back from the management of a number of companies due to sanctions, due to which his net capital decreased by 81 percent, or $7.5 billion. This is reported by RIA Novosti.

“I have spent 30 years of my life establishing companies that are major players in the global economy, and will not allow this hard work — along with millions of jobs — to be destroyed by political intrigues,” RBC cites Deripaska.

The entrepreneur denies being an oligarch.

In late January 2019, the United States Department of the Treasury removed sanctions from Rusal, En+, and Eurosibenergo after they were removed from Deripaska’s control.

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