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Russian metals tycoon Deripaska sues U.S. over sanctions

March 15, 2019

WASHINGTON/NEW YORK - Russian tycoon Oleg Deripaska sued the United States on Friday, alleging that it had overstepped its legal bounds in imposing sanctions on his companies and made him the “latest victim” in the U.S. probe into Moscow’s alleged political interference.

 

In a legal filing, Deripaska asked the U.S. District Court in Washington to block the U.S. Treasury Department from using the “devastating power” of such economic sanctions, which he said were inconsistent with the U.S. Constitution.

 

 

Aluminum company Rusal and its parent company En+ were hit with the U.S. sanctions in April 2018 when Washington blacklisted billionaire Deripaska along with several other influential Russians, alleging they were profiting off their ties to Russian President Vladimir Putin and from the state’s “malign activity” around the world.

 

Washington dropped the sanctions on Rusal and En+ in January after an intense lobbying campaign in which Deripaska agreed to sell down his stake in En+, relinquishing control over his corporate empire in a bid to stave off its ruin. The sanctions on Deripaska himself remain in force.

 

FULL REPORT

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