Assets of sanctioned Russian oligarch worth UAH 1 billion seized in Ukraine

The information was reported by the press service of Ukraine's Prosecutor General's Office.

According to the report, at the request of the Prosecutor General's Office, the assets of Ukraine's largest producer of metallurgical alumina and aluminum hydroxide were seized. The seized property includes 12 land plots, a seaport complex, apartments, administrative buildings, production workshops, 46 vehicles, and 240 pieces of special equipment. The total value of the seized assets exceeds UAH 1 billion.

"According to the investigation, in 2000 this Ukrainian enterprise was privatized by a holding company owned by a Russian oligarch. He is currently under US and EU sanctions. He was sanctioned for money laundering in the interests of the president of the aggressor state," the Prosecutor General's Office explained.

"The Russian holding is one of the world's largest aluminum producers. The group of companies that are part of it continues to meet the needs of the Russian military and industrial complex, supplying its own products for the production of military missile systems and other weapons," they added.

The Office does not specify the name of the oligarch, but most likely the businessman in question is Oleg Deripaska, who is close to the Russian president. Open sources reveal that Deripaska owns significant assets in Ukraine through a group of related companies: Mykolaiv Alumina Plant LLC, Aluminum of Ukraine Company LLC, Hlukhiv Quartzite Quarry LLC, Khust Quarry PJSC, Zhezheliv Quarry PJSC, Guardon Ukraine LLC, Metallurg Service Center LLC, etc.

• On January 10, the Ukrainian Ministry of Justice appealed to the High Anti-Corruption Court to seize the assets of one of the richest Russian oligarchs, Oleg Deripaska, for state revenue.