Contents tagged with Deripaska

  • Russian banks reluctunt to buy Kremlin bonds

    Russian banks are in no rush to support the government debt market, which foreign investors have recently fled. The largest and systematically most significant banks and other participants in the banking system have been dumping Federal Loan Bonds (OFZs) alongside non-residents, according to a statistic published by the Central Bank of Russia on Wednesday.

    Foreign investors disposed of 370 billion rubles worth of Russian government debt notes after the US placed sanctions on the aluminum …

  • Deripaska’s company Rusal asks Kremlin to provide concessions for transport tariffs as US sanctions take effect

    Russian billionaire Oleg Deripaska’s company, UC Rusal, requested through Prime Minister Dmitry Medvedev to reduce costs for transportation of raw materials and finished products by rail, the Kommersant newspaper reports.  

    According to the sources cited in the newspaper, Rusal asked to reduce tariffs of the Russian Railways company for transportation of raw materials and products, which was estimated by the company to be worth around 24 billion rubles (380 million dollars) from July 1. …

  • Russian tycoon Deripaska asks Kremlin for help after falling under US sanctions

    Russian tycoon Oleg Deripaska has appealed to the Russian government, requesting it to buy out aluminum from Rusal, which the company cannot sell being cut off from the world's largest trading floors. Interfax reports that Deripaska hopes that the Russian government could buy back the company’s product for the State Reserve. Intrerfax’s sources said that "the government is thinking [about it]."

    According to the source, this is not the only support measure that Deripaska, who became rich during …

  • US sanctions force Russian tycoon Deripaska to resign from the board of directors of Rusal

    Russian businessman Oleg Deripaska decided to leave the Board of Directors of En+ Group, which is the largest shareholder of aluminum producer Rusal, Deutsche Welle reports.

    The website of En+ Group reports that on Friday, May 18, at the meeting of the Board of Directors at the end of which his Chairman Gregory Barker accepted Mr. Deripaska's resignation, the Board unanimously endorsed the proposals aimed at lifting sanctions against En+ and its subsidiaries.

    It is noted that the so-called …

  • American sanctions force Russian tycoon Deripaska to give up 3 private planes

    After the introduction of the U.S. package of sanctions, Russian billionaire Oleg Deripaska had to give up three private Gulfstream G550 aircraft, which he had rented from Credit Suisse and Raiffeisen, Reuters reported.

    According to Alireza Ittihadieh, director of the company Freestream, which the owners of the planes contracted to sell them, the oligarch had leased them from a private company.

    “He’s sanctioned, his companies are sanctioned, he has to return the aircraft. He has to terminate …

  • London Stock Exchange to suspend the trading of En+ securities due to US sanctions against Deripaska

    On May 2, the London Stock Exchange (LSE) will halt trades in the global depositary receipts (GDR) of En+ Group, which is owned by Russian businessman Oleg Deripaska. LSE will continue to monitor the situation, the press release says.

    On April 6, Deripaska was placed on the US sanctions list, together with his main assets: Kuban agricultural holding, Basic Element Group, which was registered in the Virgin Islands by B-Finance Ltd, EN+ Group Plc., GAZ group (car manufacturing), JSC …

  • Russian companies under sanctions ask Kremlin for $1.6 billion in aid

    The Russian companies suffering from the most recent round of US sanctions have asked the government for roughly 100 billion rubles ($1.6 billion) in assistance, reported Russian Finance Minister Anton Siluanov.

    According to him, in one of the ministries a structure will be created that will communicate directly with the enterprises under sanctions, including Rusal and the power stations that service it, and draft proposals for the government on the basis of the received information.

    The …

  • Deripaska’s company stock price hits all-time low

    The share price of Russian oligarch Oleg Deripaska’s company UC Rusal dropped to a historic low on the Hong Kong Stock Exchange due to the US’s promises to announce new anti-Russian sanctions.

    On Monday, the company’s share price dropped almost 30% compared to the previous close. At 10:51 Moscow time, the unit price was 1.43 Hong Kong dollars (0.18 USD). Rusal’s previous all-time low was 2.09 Hong Kong dollars on June 12, 2016.The day before, the US Treasury Department announced new sanctions …

  • Russian oligarch Deripaska expresses disappointment over sanctions imposed on him

    Russian oligarch Oleg Deripaska, who was recently placed on the expanded U.S. Department of Treasury sanction list, called the decision “ungrounded”, the Interfax news agency reports.

    “The events that happened yesterday were unpleasant but not unexpected,” Deripaska said. “The reasons for my inclusion on the sanction list are unjustified, ridiculous and downrightly absurd.”

    The oligarch refused to provide lengthier comments on the situation, noting that currently he “was preparing to …

  • Fortune of Russian oligarch Deripska shrinks by $2.5 billion after US puts him on sanctions list

    On Friday, April 6, the U.S. Department of the Treasury imposed new sanctions against Russian businessmen, officials and managers of state companies. They involve the freezing of assets of those included in the sanctions list and also prohibiting American citizens and companies to engage in any economic activity with the blacklisted individuals.  According to the U.S. Department of the Treasury, the sanctions were introduced in response to Moscow’s attempts at undermining western democracies.  …