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Deripaska sues US over sanctions

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Deripaska sues US over sanctions

Russian tycoon Oleg Deripaska sued the U.S. in a bid to remove sanctions imposed on him last year, Reuters reported March 16.

Deripaska and his companies United Co. Rusal PLC, En+ Group PLC and En+ unit EuroSibEnergo PLC were blacklisted by the U.S. Treasury Department's Office of Foreign Assets Control, or OFAC, in April 2018 for allegedly profiting from Russia's "malign activity around the globe."

The billionaire, in particular, was accused of money laundering, threatening the lives of business rivals, illegally wiretapping a government official, and extortion and racketeering.

In January, OFAC lifted the sanctions on the firms after Deripaska agreed to reduce his control over the companies. However, his sanctions remained in place.

Reuters said Deripaska's lawsuit, filed in a federal court in Washington, challenges OFAC to provide evidence to support its claims.

In the report, Deripaska also said the "unlawful" sanctions, which he claims violated his right to due process, destroyed his reputation and wiped out four-fifths of his net worth.

The lawsuit is unlikely to gain traction given the court's broad deference to OFAC, according to lawyers interviewed by Reuters.