Oleg Deripaska

About Oleg Deripaska

Oleg Deripaska is the founder of Basic Element, a Russian industrial group with interests in aluminum, energy, construction, agriculture and more.

In April 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control imposed sanctions against Deripaska and some of his companies.

In 2000, he merged his Siberian Aluminum with the aluminum assets of Roman Abramovich's Millhouse Capital to form UC Rusal.

In January 2019, OFAC lifted sanctions on En+ Group, UC Rusal and Eurosibenergo, and Deripaska agreed to permanently reduce his stake to 44.95%.

He was the richest person in Russia and the 9th richest in the world in 2008 before nearly losing it all due to crashing markets and heavy debts.

In an IPO in November 2017, En+ Group, which combined Deripaka's stake in UC Rusal and assets in the electric power industry, raised $1.5 billion.