Ukraine Seeks to Nationalize ₴2 Billion in Assets from Russian Oligarch Deripaska

The Ministry of Justice has filed a lawsuit with the HACC to nationalize the assets of sanctioned Russian oligarch Deripaska, as his company supplied aluminum products to the Russian defense industry. The pre-trial investigation is ongoing, and SBU investigators are establishing all the circumstances of the financing of military aggression.

This was reported by the press service of the Office of the Prosecutor General of Ukraine.

On March 13, 2025, the Ministry of Justice of Ukraine, based on the materials of the Office of the Prosecutor General, filed a lawsuit with the High Anti-Corruption Court to confiscate the assets of a sanctioned Russian businessman and his aluminum company.

The lawsuit calls for the transfer of more than 440,000 tons of bauxite and 110,000 tons of metallurgical alumina, with a total value of more than UAH 2 billion, to state ownership. The products are stored at the Mykolaiv Alumina Plant.

The investigation established that the ultimate owner of these resources is a Russian oligarch who controlled the world's largest aluminum production facility. His products were supplied to Russian defense plants that manufacture military equipment, weapons and ammunition.

The pre-trial investigation is being conducted by investigators of the SBU Main Investigation Department within the framework of criminal proceedings under Article 110-2 of the Criminal Code of Ukraine on financing actions aimed at violent change or overthrow of the constitutional order. Operational support is provided by the SBU Department of National Statehood Protection.

In addition, it was established that the oligarch owns the Russian Machines industrial conglomerate, which includes the Military Industrial Company, one of the main suppliers of weapons to the Russian army. His companies manufacture armored vehicles, including BTR-80, BTR-82A and Tiger-M combat vehicles for the Russian Defense Ministry.

Law enforcers collect data on the company's financial activities, including bank accounts, cash balances, transactions, and its counterparties, as well as analyze telecommunications in the Bank-Client system.

Recently, Mykolaiv Alumina Plant put up for sale almost seven tons of aluminum again, significantly reducing its price. This metal was produced in Russia in 2019.

In June 2023, the High Anti-Corruption Court made a final decision to confiscate the plant from Russian oligarch Oleg Deripaska. Thanks to the SBU and the State Bureau of Investigation, Ukraine nationalized the assets of the sanctioned businessman worth UAH 10 billion.

Анна Бальчінос