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Ukraine Seizes $50 Million in Aluminum Raw Materials from Russian Oligarch Oleg Deripaska
![Ukraine Seizes $50 Million in Aluminum Raw Materials from Russian Oligarch Oleg Deripaska Ukraine Seizes $50 Million in Aluminum Raw Materials from Russian Oligarch Oleg Deripaska](https://storage.united24media.com/thumbs/1014x676/4/71/8eed3803574ffcd14f6c0d1f13034714.jpg)
Ukraine has officially seized $50.3 million (2.11 billion hryvnia) worth of raw materials belonging to Russian aluminum magnate Oleg Deripaska, two years after blocking their shipment, the Security Service of Ukraine (SBU) announced on January 29.
The confiscated assets include nearly 500,000 tons of bauxite and alumina, materials essential for aluminum production. These supplies were produced in Ukraine before Russia’s full-scale invasion and were stored at the Mykolaiv Alumina Plant, which was previously owned by Deripaska.
According to investigators, the seized bauxite and alumina belonged to Deripaska through a controlled commercial entity registered in an EU country, which acted as the formal purchaser of the materials from the Mykolaiv plant. The raw materials were intended for re-export to Deripaska’s Rusal aluminum plants in Russia.
In early 2023, Ukrainian law enforcement uncovered the scheme and blocked the shipment.
![Ukraine's Mineral Resources, Valued at $15 Trillion, Are A Prime Goal for Russia](https://storage.united24media.com/thumbs/1058x596/a/10/331d230482b7efd4efdf5c7c6f9aa10a.jpg)
Deripaska is known to be a close associate of Russian leader Vladimir Putin and plays a key role in Russia’s military-industrial complex. His factories manufacture components for Iskander ballistic missiles, combat drones, and radar systems used by the Russian military, according to SBU.
The SBU has officially charged Deripaska in absentia under several articles of Ukraine’s Criminal Code, including financing Russia’s war against Ukraine. Additionally, all of his industrial assets located in Ukraine have been nationalized following an SBU investigation.
Earlier, it was reported that chemical plants connected to some of Russia’s wealthiest billionaires have been found to play a crucial role in supplying chemicals for explosives used in Moscow’s military operations against Ukraine. According to a Reuters investigation, these plants have provided over 75% of the key chemicals used in explosives production since the onset of the war.