Russian metals tycoon Oleg Deripaska and three Russia-based companies were saddled with new sanctions by the U.S. Treasury for their attempt to avoid existing sanctions.
The U.S. Treasury on Tuesday put sanctions on a Russian citizen and three Russia-based companies it said were trying to evade U.S. sanctions in a scheme that could have unfrozen more than $1.5 billion belonging to Russian metals tycoon Oleg Deripaska. Deripaska, who himself was placed under U.S. sanctions in April 2018, branched out into metals trading as the Soviet Union crumbled, making a fortune by buying up stakes in aluminum factories. Forbes ranked his fortune this year at $2.8 billion.
The Treasury said that in June 2023 Deripaska coordinated with Russian citizens Dmitrii Beloglazov, the owner of Russia-based financial services firm Obshchestvo S Ogranichennoi Otvetstvennostiu Titul , on a planned transaction to sell Deripaska's frozen shares in a European company.
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