Ukraine Seizes Over $54 Million in Assets Linked to Russian Oligarch Oleg Deripaska

The Ukrainian government has nationalized assets valued at over $54 million (UAH 2 billion) linked to Russian oligarch Oleg Deripaska, according to the Security Service of Ukraine (SBU), on April 7.

The Ukrainian Anti-Corruption Court granted a Ministry of Justice claim to recover products and raw materials previously owned by Deripaska.

The assets include more than 550,000 tons of bauxite and alumina, which were produced in Ukraine before the start of the war and stored at the Mykolaiv Aluminium Plant, formerly owned by a Russian entity.

These materials, essential for aluminum production, were used in Deripaska’s Russian factories to manufacture components for ballistic missiles, combat drones, and radar systems.

Bauxite, a naturally occurring mineral, is composed mainly of aluminum oxide minerals. It is refined into alumina (aluminum oxide), which is then processed to produce aluminum metal.

The Ukrainian authorities discovered the transaction in early 2023 and blocked the shipment of these raw materials.

According to the SBU, Deripaska is closely connected to Russian leader Vladimir Putin and has been identified as a key financial supporter of Russia’s war efforts against Ukraine.

The SBU’s investigation led to charges against Deripaska for financing Russian aggression, with the pre-trial investigation completed in January 2025. The case is now under the procedural guidance of the Prosecutor General’s Office.

In related news, the British military recently discovered Russian sensor devices in UK waters, sparking concerns about Moscow’s potential efforts to monitor the UK’s nuclear submarine fleet and disrupt critical underwater infrastructure.