The US says it has uncovered a scheme to circumvent sanctions in Deripaska's interests
Shares worth about $1.5bn could have been removed from sanctions
The US has imposed sanctions on a Russian citizen and three firms for attempting to help the oligarch move frozen assets out of sanctions
The US Treasury Department has announced that it has uncovered a scheme to circumvent sanctions in favour of Russian oligarch Oleg Deripaska.
Deripaska's assets in the United States have been frozen since 2018, when he was sanctioned under Executive Order 13661, one of the first sanctions orders signed by President Barack Obama on 16 March 2014, immediately after Russia's annexation of Crimea.
In June 2023, according to the Ministry of Finance, Deripaska reached an agreement with Russian citizen Dmitry Beloglazov, who owns Titul LLC, a financial services company.
"Titul established a Russian subsidiary, Iliadis JSC, and in early 2024, Iliadis bought a Russian investment holding company, Raspberry Trading Limited, which the US authorities allege is owned by Deripaska in an unnamed European company.
It is alleged that these shares, worth around $1.5bn, could have been removed from sanctions and unfrozen.
The US imposed sanctions on Dmitry Beloglazov and three companies involved in the transaction.
Background. Earlier it became known that under pressure from Washington, Austria's Raiffeisen Bank International abandoned its plans to buy out Russian oligarch Oleg Deripaska's frozen shares in the construction company Strabag for €1.5bn.
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