US court rejects Deripaska’s claim to lift US sanctions against him

According to the materials, Oleg Deripaska considers his inclusion in the sanction list an arbitrary decision of the US Treasury Department.

The court of the Metropolitan District of Columbia eventually decided to reject the claim of Russian businessman Oleg Deripaska to the US Treasury Department for the removal of American restrictions from the Russian. The relevant decision of Judge Amit Mehta was posted on Sunday in the electronic database of the court.

As noted in the document, the court granted the defendant’s request and rejected the plaintiff’s counter-request for simplified record keeping. This decision is subject to appeal to a higher court. According to the materials, Deripaska considers his inclusion in the sanction list an arbitrary decision of the US financial department.

On April 6, 2018, the US Treasury Department imposed restrictions on Deripaska and companies controlled by him, including Rusal, Basic Element, En+, Russian Machines, Eurosibenergo, and GAZ Group. Those on the blacklist are barred from entering the United States, their assets in the country are frozen, and American citizens are prohibited from doing business with them.

In January 2019, the sanctions against Rusal, En+, and Eurosibenergo were lifted, but this cost Deripaska control over the enterprises: in particular, his share in the En+ holding decreased from 70% to 44.95%, in Rusal he continued to own directly only 0.01% of the shares, for which he is not entitled to receive dividends. The entrepreneur himself remained on the sanctions list. In March 2019, he sued the US Treasury Department in a US court. Deripaska said that the restrictions against him are unfair and illegal, and the damage they caused was estimated at more than $7.5 billion. The businessman demanded the lifting of sanctions, as the conditions for their introduction have lost relevance. In response, the US Treasury declassified some of the materials that also became the basis for the introduction of restrictive measures. Deripaska called these data false.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
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Ivan Maltsev

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