Ukraine has confiscated 2.11 billion hryvnia ($50.3 million) worth of raw materials belonging to Russian aluminum magnate Oleg Deripaska, nearly two years after blocking their shipment, the SBU security service said.
According to the SBU, authorities seized nearly 500,000 metric tons of bauxite and alumina stored at the Mykolaiv Alumina Plant. Ukraine had previously nationalized the plant—along with other Deripaska-owned factories—following Russia’s full-scale invasion.
The agency stated that the ore was produced in Ukraine before Russia launched its invasion in February 2022. Ukrainian law enforcement had “exposed and blocked” plans to ship out the materials as early as 2023.
Deripaska’s ownership was traced through a Europe-registered company, which acted as the formal customer of the Mykolaiv plant, the SBU said. The agency also noted that factories linked to Deripaska manufacture components for Russia’s Iskander ballistic missiles, combat drones, and radar systems.
Ukraine has accused the billionaire of funding Russia’s war effort. Deripaska, who is under Western sanctions, is one of the few Russian business elites to have publicly criticized the Kremlin’s invasion, though his comments have largely focused on economic consequences.
