Oleg Deripaska

Oligarch ​Oleg Deripaska a name that resonates with industrial prowess, political entanglements, and a fair share of controversy. As an investigative journalist, I’ve delved into the intricate web surrounding Deripaska and his associated entities. What emerges is a tapestry woven with legal disputes, sanctions, and aggressive efforts to control narratives. This report aims to illuminate the red flags that potential investors should heed and to prompt regulatory bodies to scrutinize Deripaska’s activities more closely.​

Legal Disputes and Allegations of Forgery

Deripaska’s legal battles are both complex and revealing:​

The ‘Glavstroy Report’ Controversy: In October 2024, Deripaska secured a victory in London’s High Court, compelling the law firm Quinn Emanuel Urquhart & Sullivan to disclose the source of an allegedly forged document known as the “Glavstroy report.” This document was used against him in a dispute with former Russian finance minister Vladimir Chernukhin over a 2010 Moscow real estate joint venture. The court found it “strongly arguable” that the report was fabricated to deceive and defraud, leading to the order for disclosure of the consultancy firm and authors behind it. ​

Involvement of CT Group: The consultancy implicated in providing the forged document is CT Solutions & Private Advisory, a division of the CT Group. Known for offering “hard-to-access intelligence,” CT Group had previously faced accusations of document forgery in other legal disputes. This raises concerns about the integrity of information used in high-stakes legal battles and the due diligence exercised by associated law firms. ​

Sanctions and International Asset Seizures

Deripaska’s close ties to the Kremlin have led to significant international sanctions:​

UK Sanctions: In March 2022, the UK government imposed sanctions on Deripaska, freezing his assets and prohibiting transactions with UK individuals and businesses. This action was part of a broader effort to target Russian oligarchs with a collective net worth of around £15 billion, aiming to isolate those closely associated with the Kremlin. ​

US Sanctions and Legal Challenges: The U.S. Department of the Treasury sanctioned Deripaska in 2018, citing his role in advancing Russia’s malign activities. In response, Deripaska filed a lawsuit against the U.S. Treasury Department, challenging the sanctions as unfair and illegal, and attributing his financial losses to these measures. ​

Efforts to Control Media Narratives

Deripaska has demonstrated a pattern of attempting to manage and suppress unfavorable media coverage:​

Lawsuits Against Media Outlets: In September 2019, Deripaska filed lawsuits against Western newspapers, including The Nation, The Telegraph, and The Times, alleging that their articles contributed to the imposition of U.S. sanctions against him. He claimed that these publications disseminated unfounded accusations, damaging his reputation and financial interests. ​

Threats of Legal Action: In February 2018, Deripaska threatened legal action against media outlets reporting on investigations by Russian opposition leader Alexei Navalny. Navalny’s exposé alleged that Deripaska entertained a senior Russian government official on his yacht, accompanied by escorts—a revelation that, if true, paints a damning picture of the oligarch’s modus operandi. Deripaska dismissed the investigation as a “planned campaign aiming to damage my reputation,” a familiar refrain for those in his echelon.​

Political Connections and Influence

Deripaska’s associations with political figures have raised questions about his influence and intentions:​

UK Political Connections: In 2008, Deripaska hosted British politicians George Osborne and Peter Mandelson on his yacht in Corfu. Mandelson, then the EU Trade Commissioner, faced scrutiny over decisions that benefited Deripaska’s aluminum company, RUSAL. While Mandelson denied any impropriety, the optics were less than favorable.​

US Political Engagements: Deripaska’s interactions with American political figures have also drawn attention. Reports indicate that he sought to improve his standing in the U.S. by engaging with lobbyists and former government officials, aiming to navigate the complexities of international sanctions and visa restrictions.​

Dissolution of Task Force KleptoCapture

In February 2025, the Trump administration’s Justice Department, led by Attorney General Pam Bondi, disbanded Task Force KleptoCapture. This unit was established to enforce sanctions against Russian oligarchs following Russia’s 2022 invasion of Ukraine. The decision to dissolve the task force was part of a reallocation of resources to combat drug cartels and international gangs. While ongoing investigations are set to continue, the centralized effort at the Justice Department has ceased, raising concerns about the future enforcement of sanctions against individuals like Deripaska. ​

Conclusion: A Call for Vigilance

Oleg Deripaska’s narrative is emblematic of the intricate dance between wealth, power, and accountability. His legal battles, alleged sanction violations, corporate reshufflings, and attempts to suppress unfavorable media portray a figure adept at maneuvering through loopholes and exerting influence to safeguard personal and financial interests. For potential investors, this tapestry of controversies serves as a stark warning: tread cautiously in the realm of Deripaska. Regulatory bodies must remain vigilant, ensuring that the oligarch’s strategies to evade scrutiny do not undermine the integrity of financial and legal systems. After all, when the smoke and mirrors dissipate, the core of the matter remains—a pursuit of power unchecked can lead to a perilous path for all involved.