UPDATE 2-Sanctions on Russian tycoon Deripaska will create global ripples [Reuters]
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Source: Reuters
Sanctions on Russian tycoon Deripaska will create global ripples | Reuters 7 Min Read MOSCOW (Reuters) - The U.S. government’s decision to include Russian magnate Oleg Deripaska on its sanctions blacklist on Friday will reverberate around the world because his business empire has a global footprint and counts major multinationals as partners. Washington imposed sanctions on seven Russian oligarchs, 12 companies they own or control, as well as 17 senior Russian government officials because, it said, they were profiting from a Russian state engaged in “malign activities” around the world. Deripaska, estimated by Forbes magazine to have a net worth of $6.7 billion, is the main owner of the conglomerate EN+, which in turn is the co-owner of some of the world’s biggest metals producers, Rusal and Nornickel. Deripaska’s inclusion on the U.S. sanctions list could potentially create complications too for companies with which he does business; they include German car giant Volkswagen ( VOWG_p
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