Viktor Vekselberg made a good face with bad news

Viktor Vekselberg did not have personal accounts in Cyprus, his representative said. Earlier, the US Treasury reported that the bank accounts of Vekselberg and Oleg Deripaska in Cyprus were frozen after US sanctions.
22.08.2018
RBC
Origin source
"Mr. Vekselberg did not have and do not have personal accounts in Cyprus," said official representative of the group of companies Renova, controlled by Viktor Vekselberg, Andrei Shtorkh. "As for our affiliated structures, they did not keep any significant money either before the introduction of US sanctions, or later on accounts in Cypriot banks."

Previously, the US Treasury in a report to the Congress said that in Cyprus, the bank accounts of Russian billionaires Oleg Deripaska and Viktor Vekselberg were frozen. This happened after April 6, 2018, when the US Treasury introduced Deripaska, Vekselberg and their companies to the sanctions list.

RBC also sent a request to the representative of Deripaska and requests to the Central Bank and the Ministry of Finance of Cyprus.

The US Treasury, in a report on illegal financial flows related to Russia, acknowledged that since early 2017, the US authorities have put serious pressure on the Cypriot authorities to resolve the problem of "significant amounts of suspicious Russian funds and investments" passing through the Cyprian banking sector.

The report notes that the sanctions against Deripaska and Vekselberg caused them significant financial losses. In particular, Vekselberg's fortunes declined by almost $ 3 billion - from an estimated $ 16.4 billion as of April 5 to $ 13.5 billion on July 26, 2018, the agency said. As a result of sanctions, the Renova Group of Vekselberg was forced to reduce its stakes in the Swiss concern Sulzer and the Italian Octo Telematics, the Finance Ministry said. In addition, the US investment company Columbus Nova, which manages Vekselberg's assets and called Renova its largest customer, was forced to significantly restrict its operations, the report said.

The sub-Russian "oligarchs" have become "radioactive" in the sense that everything they touch carries the risk of secondary US sanctions against those who cooperate with these businessmen, said on Tuesday, August 21, at a hearing in the banking committee of the Senate, dedicated to anti-Russian sanctions, US Deputy Minister of Finance for Countering Terrorism and Financial Intelligence Sigal Mandelker.

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