Russian Oligarch Sues U.S. Over Sanctions

Oleg Deripaska has close ties with Russian President Vladimir Putin

Oleg Deripaska has close ties with Russian President Vladimir Putin

Oleg Deripaska, a Russian billionaire close to Vladimir Putin who once loaned convicted felon Paul Manafort $10 million, is suing the us for declaratory and injunctive relief in response to "devastating" sanctions.

"The effect of these unlawful actions has been the wholesale devastation of Deripaska's wealth, reputation, and economic livelihood", his attorney, Erich Ferrari, wrote in the 28-page lawsuit submitted to the U.S. District Court in Washington, D.C.

Mr Deripaska had to reduce his ownership of Rusal, the parent company of Aughinish Alumina in County Limerick, as part of a deal to lift sanctions on the company.

In what legal experts called a long shot attempt, Deripaska asked a federal court in Washington to block the U.S. Treasury Department from using the "devastating power" of such sanctions, which he claims were arbitrarily applied to him last April and violated his right to due process under the U.S. Constitution. As a direct result of Defendants' actions, Deripaska has been ousted from the worldwide business community, as banks and businesses refuse to transact or deal with him or his businesses out of fear of their own potential exposure to US sanctions for doing so.

Deripaska suggested that he has been illicitly targeted by the US because it was "publicly popular to do so". But Deripaska himself remains blacklisted.

The sanctions were implemented illegally and based only on "false rumor and innuendo and. decades-old defamatory attacks originated by his business competitors", he said in a court filing.

"He's asking the judge to basically look at the executive order and make determination independent of OFAC and I think that's a very big ask", Jacobson said.

This is the second recent lawsuit filed in this court by a Russian over the USA government's sanctions.

"Ultimately I don't really think this case is going to go far", said Dobson, now at the Morrison & Foerster law firm.

Deripaska has come under scrutiny by Mueller but has not been charged or accused of any wrongdoing in that probe.

Deripaska has longstanding ties to a key figure in the Mueller investigation, Trump's former campaign chairman, Manafort, who was to 7.5 years in prison for conspiracy and other crimes.

Trump has repeatedly called Mueller's investigation a "witch hunt" and denies any collusion with Russian Federation.

"It appears to be the case that there is simply no evidence Deripaska is involved in the Russian Government's activities".

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