Economics
Deripaska Says Treasury Response to Lawsuit Is Poorly Done
- Tycoon rebuffs OFAC arguments justifying U.S. sanctions
- Losses from sanctions exceed $15 billion, press service says
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Billionaire Oleg Deripaska rejected the U.S. Treasury Department’s response to his legal challenge to American sanctions, saying it was “poorly researched.”
A so-called evidentiary memorandum from the Office of Foreign Assets Control, explaining the sanctions against Deripaska and his companies, said the tycoon sometimes acted in support of Russian President Vladimir Putin and was involved in the energy industry. Metals magnate Deripaska -- who sued the U.S. Treasury and Secretary Steven Mnuchin in March, asking a federal judge to lift the restrictions -- denied those allegations.