Ukraine freezes Deripaska’s Mykolayiv Bauxite Refinery accounts

30 January, 09:35 PM
Oleg Deripaska (Photo:Sergei Karpukhin / Reuters)

Oleg Deripaska (Photo:Sergei Karpukhin / Reuters)

Ukraine’s Prosecutor-General’s Office has frozen UAH 32 million ($871,000) in corporate funds of Mykolayiv Bauxite Refinery, owned by Russian oligarch Oleg Deripaska, the office said in a message on its website on Jan. 30.

According to the message, the cash was in a deposit account with Ukraine’s Customs Service.

Earlier, Ukrainian law enforcement has frozen the refinery’s assets: 12 plots of land, port facilities, administrative and industrial buildings, 46 transport vehicles, and 240 pieces of industrial equipment.

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In total, Mykolayiv Bauxite Refinery has UAH 1 billion ($27.2 million) of its assets frozen.

“In 2000, the enterprise was privatized by a holding group owned by a Russian oligarch; he’s currently under personal U.S. and EU sanctions,” the message reads.

While the prosecutors omit the oligarch’s name, he is referred to as one the world’s largest aluminum tycoons, and is understood to be Oleg Deripaska, who is closely-tied to the Kremlin.

“Companies that belong (to the holding group) continue to supply Russia’s military-industrial complex, facilitating production of rocket and missile systems, along with other weapons,” the prosecutors said.

The case investigates the company’s alleged financing of the war against Ukraine.

Ukraine’s Justice Ministry previously sued to seize Deripaska’s Ukrainian assets, which would transfer their ownership to the state.

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