Contents tagged with Deripaska
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Russia's aluminum giant feels the strain of sanctions, production slashed amid rising costs
Russia's aluminum industry faces a crisis as alarming news emerges from Rusal about a sudden production cut. The country's largest aluminum producer, Rusal, has announced a reduction in aluminum output by 250,000 tons. The company attributes this decision to record-high alumina prices— a crucial raw material— and deteriorating macroeconomic conditions.
Rusal, owned by prominent Russian oligarch Oleg Deripaska, who is closely tied to the Kremlin, has found itself procuring more than a third of …
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Russian oligarch Deripaska calls for ceasefire as Ukrainian Forces advance in Kursk region
Ukrainian forces are fortifying their positions in Russia's Kursk region, expanding their control in certain areas, and continuing their advance or conducting reconnaissance missions. The situation remains unclear due to numerous unverified reports emerging from the combat zones. Nonetheless, today the Russian Emergency Situations Ministry declared a federal-level emergency in the region.
Despite the Russian Defense Ministry releasing footage of Ukrainian military equipment being destroyed, …
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Russian oligarch Deripaska accuses FBI of stealing two bottles of vodka after search warrants executed in his American mansions
Russian billionaire Oleg Deripaska resorted to foul language on his telegram channel after the FBI raided American houses belonging to the businessman's relatives.
The "law enforcement actions", according to Deripaska’s representative, were carried out on the basis of search warrants related to sanctions.
Deripaska said, using an obscene synonym for the verb "steal", that two bottles of vodka were stolen.
He added that the searches were carried out "in the best traditions of the Bolshevik …
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Coup in Guinea threatens Russia’s aluminum production
The military coup in Guinea may become a painful blow to the aluminum empire of the Russian tycoon Oleg Deripaska who built it in the bloody chaos of the 1990s.
Russia's largest aluminum producer Rusal could lose a third of its production as it relies on supplies of bauxite from Guinea, an industry source told RIA Novosti.
Guinea, where 43% of the population lives below the poverty line and 32% cannot read and write, ranks first in the world in terms of bauxite reserves, providing 20% of …
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Russian oligarch Deripaska predicts default of U.S economy
America is heading for default, according to Oleg Deripaska, a billionaire and a key shareholder of the holding companies En+ and the Gaz Group.
According to the businessman, the impending default of the world's largest economy is evidenced by the "fall in popularity of the dollar."
"The dollar is still the world's top reserve currency, but its popularity has already fallen to its lowest level since January," Deripaska wrote on his Telegram channel.
The billionaire referred to the article of …
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Russian Billionaire Deripaska loses court case against U.S. Treasury Department to lift sanctions
The U.S. court for the District of Colombia has decided to reject billionaire Oleg Deripaska's lawsuit against the Department of the Treasury to lift personal sanctions imposed in 2018.
Deripaska, formerly Russia's richest person, will remain on the blacklist of the Office of Foreign Assets Control with a visa ban and blocking of all assets in the U.S., according to a ruling by Judge Amit Mehta released on Sunday.
During the court hearings, the billionaire, whose fortune is estimated at $3.8 …
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Russian tycoon Deripaska: Next spring Russia will face ‘sanctions from hell’
Russia may face a sharp tightening of U.S. sanctions in the spring of 2021, according to Russian billionaire Oleg Deripaska.
If Donald Trump loses the election and Democrats, led by 77-year-old Joe Biden, come to power in Washington, "all previous sanctions will seem like a walk in the park to us," Deripaska, who has been on the U.S. Treasury Department's blacklist since 2018, told BFM radio.
According to the businessman, the so-called "sanctions from hell" - a package of tough measures …
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Billionaire Deripaska accuses China of destroying Russia's climate
China and other countries of Southeast Asia have barbaric attitude towards the environment, which provoked a "strange" winter and other adverse climatic phenomena in Russia, said Russian billionaire Oleg Deripaska.
"Floods, fires, which this year began earlier than usual in Siberia, incomprehensible winter a second year in a row, drought, which is likely to lead to serious crop failure in the European part of Russia - all these unpleasant surprises are a consequence of the barbaric attitude to …
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Russian billionaire Deripaska stripped of Cyprus citizenship
The billionaire Oleg Deripaska, who became one of the 10 wealthiest people in Russia in the early 2010s and came under personal US sanctions last year, has been stripped of his Cypriot citizenship.
After auditing its “citizenship for investment” program, in which one can “buy” a passport by investing €2 million in the island’s economy, the government of Cyprus has revised its decision regarding 26 individuals.
As reported by Vedomosti, citing the Cypriot mass media, in addition to Deripaska, …
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Deripaska’s Rusal confirms plans to reregister in Russia
UC Rusal has confirmed its plans to reregister in Russia, reports RBC news agency reference with reference to a company spokesperson.
As announced earlier at the St. Petersburg International Economic Forum by Russian Deputy Minister of Economic Development Ilya Torosov, the company intends to reregister in Kaliningrad, Russia.
In August last year, the company announced that it was considering changing its jurisdiction from Jersey Island (one of the world’s largest offshore havens) to Russia. …