Deripaska Sues Over U.S. Sanctions, Claims $7.5 Billion Loss

Russian billionaire Oleg Deripaska is fighting back in a U.S. court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin.

Deripaska, who made his fortune in the metals industry, sued the U.S. Treasury Department and Secretary Steven Mnuchin in Washington on Friday, asking a federal judge to lift the restrictions. In his complaint, the magnate said he is “the latest victim” of “political infighting and ongoing reaction to Russia’s purported interference” with the 2016 U.S. presidential election.