Ukraine nationalizes factories of Russian oligarch Deripaska worth ₴10B

Ukraine nationalizes factories of Russian oligarch Deripaska worth ₴10B

Ukraine nationalized the factories owned by sanctioned Russian oligarch Oleg Deripaska worth over UAH 10 billion.

"Considering files of the Security Service, the High Anti-Corruption Court upheld the claim of the Ministry of Justice on the transfer of the enterprises owned by Russian oligarch Oleg Deripaska to the state ownership of Ukraine," the Security Service of Ukraine posted on Telegram.

The judgment concerns the Mykolaiv Alumina Plant, as well as the underground mining companies "Hlukhiv Quartzite Quarry", "Khust Quarry", and "Zhezheliv Quarry".

The value of the property transferred to Ukraine is over UAH 10 billion.

It was established that Deripaska, who belongs to the entourage of the military and political leadership of the Russian Federation, managed enterprises through controlled commercial structures in various regions of Ukraine.

Thus, the Russian oligarch tried to hide his links to Ukrainian assets.

However, the employees of the Security Service exposed the scheme and initiated the transfer of 100% of Russian property to Ukraine’s revenues.

As reported, at the end of January, Ukraine froze UAH 32 million in assets of the largest producer of metallurgical alumina and aluminum hydroxide owned by a sanctioned Russian oligarch.

Photo: Simon Dawson / Bloomberg

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