The US Treasury has allowed the Russian oligarch Oleg Deripaska to comply with the terms of the divorce, transferring tens of millions of dollars in stock to his children as part of the deal for the lifting of United States sanctions in respect of his corporate Empire.
The deal, announced by the administration of U.S. President Donald trump in December without public disclosure of its details, included a paragraph providing for the completion of the transfer of 10.5 million shares (1.64 per cent) of the main holding company Deripaska, EN +, in a trust Fund for two teenage children, whom he raised with his ex-wife Polina Yumasheva.
The couple divorced last year, and the settlement of their financial claims, which demanded that Deripaska providing funds for their children, was completed before his company came under anti-Russian US sanctions in April 2018.
The sanctions were aimed at the punishment of the seven Russian oligarchs and their companies, including Deripaska because of their ties to the Russian government, which “is involved in some malicious activity around the world,” including the interference in American elections, writes The New York Times.
A representative of Deripaska said that the businessman waived his right to the return of these securities, and his children do not receive earnings.
By agreement of 1.64% En+ will be transferred to the trust Liberi Foundation, a non-trust-Fund children Deripaska. The businessman in an interview said that it was stipulated in his agreement with his ex-wife.
When the Ministry of Finance announced the agreement with the companies of Deripaska about the lifting of sanctions, it has taken this step as an attempt to stabilize the global aluminium markets, and said that Deripaska would not benefit them personally. As part of the deal he agreed to relinquish control over companies and selling off substantial part of its property, and the proceeds will go to a blocked account, to which he will not be able to access.
Last month, Deripaska has filed a lawsuit against the U.S. Treasury Department and its officials in achieving the lifting of sanctions that apply to him personally, claiming that he was deprived of due process, and sanctions that cost him billions of dollars and made him “toxic” in international business circles.