State ownership of shares in Zaporizhzhya Steel Plant owned by Deripaska
26 February 2024 14:41
The State Property Fund has taken over the management of shares in Zaporizhzhya aluminium smelter previously owned by Russian oligarch Oleg Deripaska. This was announced by the head of the Fund Vitaliy Koval on Facebook, reports 
“The High Anti-Corruption Court has transferred 29.54% of the Zaporizhzhia Aluminium Smelter to us,” he said,
– he said.
Previously, the Fund owned more than 68% of the shares in this company. Today, this share has increased to 97.5%.
“Russian property should work for the state. Therefore, the Fund is actively working with the sanctioned assets,”
– Koval added.
Zaporizhzhia Aluminium Plant is the only aluminium producer in Ukraine.
Who is Deripaska?
Oleg Deripaska is a Russian oligarch, billionaire, owner of the Basic Element holding, head of Russian Aluminium, Siberian Aluminium and the Sayanogorsk Aluminium Plant. In 2008, his fortune was estimated at $28 billion, but in 2020 it was only $2.3 billion. Since April 2018, he has been under US sanctions, and since 2022, he has been under sanctions from other Western countries due to Russia’s invasion of Ukraine. In 2022, he called for peace and early peace talks with Ukraine.
Recently, Ukraine served a notice of suspicion to Russian oligarch Oleg Deripaska and detained two of his Ukrainian top managers who supplied Russia with raw materials for the production of Iskander ballistic missiles.
More than a year ago, Ukraine seized Deripaska’s property. The seized property includes 12 land plots, a seaport complex, apartments, administrative buildings, production workshops, 46 vehicles, and 240 pieces of specialised equipment.
