The state nationalized 97.5% of the shares of Zaporizhzhya Aluminum Plant. Oleg Deripaska is no longer a shareholder
- Author:
- Oleksandra Amru
- Date:
Part of the shares of the Zaporizhzhia Industrial Aluminum Plant (ZIAP), which previously belonged to the Russian oligarch Oleg Deripaska, was transferred to the management of the State Property Fund of Ukraine (SPFU).
This was reported by the head of the State Property Fund Vitaliy Koval.
The High Anti-Corruption Court (HACC) transferred 29.54% of the plantʼs shares to the Fund, he noted. Previously, the Fund already had 68% of the companyʼs shares, now its share has increased to 97.5%.
- The Zaporizhzhia Industrial Aluminum Plant collapsed in 2001 with the arrival of a new owner — a company from Russia, which was considered one of the worldʼs largest producers of primary aluminum and alumina. Due to non-fulfillment of investment obligations, in 2015, the companyʼs controlling stake (68.01%) was returned to state ownership and transferred to the management of the State Property Fund of Ukraine.
- On February 15, 2024, SBU declared the suspicion to Deripaska and detained his Ukrainian top managers, who supplied Russia with raw materials for the production of Iskander missiles.
- In July 2023, Ukraine nationalized LLC "Glukhovo Quartzites Quarry" and LLC "Mykolaiv Alumina Plant", which belonged to Oleg Deripaska.
- Back in 2019, the Schemes project conducted an investigation and found out that a subsidiary of Oleg Deripaskaʼs holding company mines quartzite in Ukraine, which it exports to Russia for the needs of the Russian military. At that time, hundreds of tons of quartzite were sent to Russian factories every week, which is almost the entire volume of production for the year.
- Deripaska was on the list of Russians against whom the US Treasury introduced sanctions in April 2018. Companies controlled by businessmen also came under their influence, in particular "RUSAL" — the only producer of primary aluminum in the Russian Federation. Sanctions include the freezing of assets in the United States, as well as a ban on American citizens from entering into agreements with these companies.