USA blocks Oleg Deripaska’s American assets

USA blocks Oleg Deripaska’s American assets
Oleg Deripaska

The businessman owns $42.5 million’s worth of real estate in New York.

The United States of America has blocked the assets of the Russian businessman Oleg Deripaska, New York Post said Monday, October 8, citing US Treasury sources. According to the media reports, the department is negotiating on ceasing operations with the assets in Europe, so as not to put them at risk of being affected by new sanctions.

The publication notes that Deripaska acquired $42.5-million New York property in 2008.

On April 6, US authorities announced a new round of sanctions on a number of Russian officials, businessmen and companies. Among them was Oleg Deripaska and companies associated with him: Rusal, Basic Element, En+, Russian Machines, Evrosibenergo, GAZ Group, B-Finance and the Kuban agricultural holding.

Getting into the sanctions list means the US assets get blocked and US citizens are banned from doing any business with those companies. Initially, the US Treasury set the deadline until May 7 for investors to get rid of their securities and by June 5 to terminate contracts with said companies.

Then, US investors were allowed to conduct transactions with Rusal until October 23, 2018. American investors were allowed to keep their stocks of En+, Rusal and GAZ until June 6. Some time after that, the US Treasury announced that the deadline for stopping all operations with the companies was moved from October 23 to November 12, 2018.

Tags: Oligarchs
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