Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Oleg Deripaska"


25 mentions found


download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn Austrian bank's plan to repatriate $1.6 billion in assets still stuck in Russia is facing US pushback, on concern that the deal would breach Western sanctions. The Raiffeisen Bank International remains the biggest foreign-owned lender remaining in the country, as efforts to sell or spin off its Russian unit have struggled since Moscow's tightened exit requirements on foreign firms. That's as Deripaska is sanctioned for potential links to the Kremlin, making the transaction a possible breach of Western restrictions. Aside from Raiffeisen, the US has been stepping up pressure on foreign banks that continue to facilitate transactions with Russia.
Persons: , Oleg Deripaska, Raiffeisen, that's Organizations: Service, Raiffeisen Bank, Business, Reuters Locations: Austrian, Russia, Russian, Vienna, Washington, Austria, Saudi Arabia, Turkey
Justice Department prosecutors had recommended sentencing McGonigal to a prison term of two years and six months for the Washington case alone. McGonigal was scheduled to report to prison next month to begin serving his sentence in the New York case. McGonigal was separately charged with concealing his ties to the former Albanian official, a naturalized U.S. citizen who was living in New Jersey. McGonigal pleaded guilty last September to concealing material facts, a charge punishable by a maximum prison sentence of five years. McGonigal didn't need more prison time beyond his 50-month sentence in New York “to serve the ends of justice,” Ducharme argued.
Persons: , Charles McGonigal, Colleen Kollar, McGonigal, , Kollar, , Oleg Deripaska, didn't, McGonigle, Elizabeth Aloi, Seth Ducharme, ” Ducharme Organizations: WASHINGTON, FBI, U.S, Justice Department, Albanian Locations: New York, U.S, Albanian, Washington ,, Washington, Russia, Crimea, New Jersey, Albania, Russian, Europe
Oligarch Oleg Deripaska told the FT he was surprised at Russia's economic resilience. Deripaska, who is worth $2.3 billion, said demand from the global south is supporting Russia's economy. It's an about-turn for Deripaska, who, in March, said sanctions-hit Russia may run out of money next year. Anton Siluanov, the country's finance minister, told the CGTV channel last month he expects the Russian economy to grow by at least 2.5% this year. "Out of the next billion people who're about to be born, 70% will be in this region," Deripaska told the FT. "Let's face reality.
Persons: Oligarch Oleg Deripaska, Deripaska, , oligarch Oleg Deripaska, It's, Anton Siluanov, it's Organizations: Service, Financial, New York Times, International Monetary Fund, US, European Union, Russia Locations: Russia, Ukraine
A disgraced ex-FBI agent just pleaded guilty in a second criminal case against him. McGonigal previously pleaded guilty to helping a sanctioned Russian oligarch. McGonigal admitted in Washington DC federal court to falsifying records and making false statements about the $225,000 he got while working sensitive cases for the FBI. The disgraced FBI pleaded guilty to one count of concealment of material facts as part of a deal with federal prosecutors. McGonigal pleaded guilty last month in the New York case to charges of money laundering and conspiracy to violate sanctions.
Persons: Charles McGonigal, McGonigal, FBI spyhunter, , Oleg Deripaska Organizations: FBI, Service, Washington DC, Putin Locations: NYC, Russian, Wall, Silicon, Washington, New York
Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., March 8, 2023. Charles McGonigal, who led the FBI’s counterintelligence division in New York before retiring in 2018, is scheduled to appear at a plea hearing in Washington federal court at 2 p.m. (1800 GMT). He pleaded guilty to a conspiracy charge in federal court in Manhattan last month in a separate case related to his work for Russian oligarch Oleg Deripaska while Deripaska was under U.S. sanctions. McGonigal’s lawyer and a spokesperson for the U.S. Attorney’s Office in Washington declined to comment ahead of the hearing. U.S. prosecutors say the former Albanian intelligence officer had business interests in Europe and was a source for an FBI investigation involving foreign lobbying that McGonigal supervised.
Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, Deripaska, McGonigal, Andrew Goudsward, Scott Malone, Grant McCool Organizations: FBI, Court, REUTERS, Rights, U.S, Attorney’s, Thomson Locations: Russian, New York City, U.S, Albanian, New York, Washington, Manhattan, Europe
Strabag maps out next step to decrease Russian investor's stake
  + stars: | 2023-09-11 | by ( ) www.reuters.com   time to read: +1 min
Logo of the construction company Strabag is seen at a construction site in front of the Supreme Court in Warsaw, Poland September 13, 2018. REUTERS/Kacper Pempel/File photo Acquire Licensing RightsSept 11 (Reuters) - Austrian construction group Strabag (STRV.VI) set out details on Monday of a planned capital reduction in its latest step aimed at decreasing the stake held by a company belonging to sanctioned Russian shareholder Oleg Deripaska. The move will decrease MKAO Rasperia Trading Limited's stake in Strabag from a current 27.8% to below 25%, ridding the company of its blocking minority, the Austrian firm said. Free reserves will be distributed to existing shareholders, who have the choice between a share option at a ratio of one new share per four already held or a cash option of 9.05 euros per share. Reporting by Tristan Veyet in Gdansk Editing by Miranda Murray and Rachel MoreOur Standards: The Thomson Reuters Trust Principles.
Persons: Kacper, Oleg Deripaska, Strabag, Vladimir Putin, Tristan Veyet, Miranda Murray, Rachel More Organizations: REUTERS, Thomson Locations: Warsaw, Poland, Strabag, Austrian, Ukraine, Gdansk
McGonigal is expected to change his plea to guilty after initially pleading not guilty. A former high-ranking FBI counterintelligence official pleaded guilty Tuesday to conspiring to violate sanctions on Russia by going to work, after he retired, for an oligarch he once investigated. McGonigal told the judge he accepted over $17,000 to help Deripaska collect derogatory information about another Russian oligarch who was a business competitor. McGonigal pleaded guilty to a single count of conspiring to launder money and violate the International Emergency Economic Powers Act. He supervised investigations of Russian oligarchs, including Deripaska.
Persons: Charles McGonigal, Oleg Deripaska, McGonigal, Deripaska, Rebecca Dell, Jennifer H, Rearden, Vladimir Putin, Matthew G, Olsen Organizations: FBI, Manhattan Federal Court, Emergency Economic, U.S, District of Columbia, Justice Department's National Security Division Locations: New York City, McGonigal, Russia, Crimea, New York, Washington ,, Albanian, Cypress, New Jersey, United States, Russian
Charles McGonigal pleaded guilty on Tuesday to working with a sanctioned Russian oligarch. He admitted to money laundering and violating sanctions. McGonigal pleaded guilty to one count of money laundering and conspiracy to violate sanctions. Insider previously reported that federal prosecutors charged McGonigal with money laundering and making false statements in his mandatory employee disclosures to the FBI. In court, McGonigal admitted he took money to collect information about Deripaska's business competitor in order to get him sanctioned.
Persons: Charles McGonigal, McGonigal, Oleg Deripaska, Judge Rearden, Rearden, Seth DuCharme, He's Organizations: FBI, Service, Washington DC —, Russia, Washington DC, UN Locations: Russian, Wall, Silicon, New York, Washington
CNN —The former head of counterintelligence for the FBI’s New York field office pleaded guilty Tuesday to one count of conspiracy in connection to a scheme working for a sanctioned Russian oligarch in 2021. In court on Tuesday, McGonigal answered a series of questions about the illegal scheme for Deripaska and his mental competency before District Judge Jennifer Rearden accepted his guilty plea. “Mind is clear,” he told the judge, saying he feels “great.”In court, McGonigal, 55, said he is “deeply remorseful” for his actions. “I agreed with another party to collect open source derogatory information about a Russian oligarch named Vladimir Potanin who was a business competitor of Oleg Deripaska,” he said. McGonigal now could face up to a maximum five-year term in prison for the one count he pleaded guilty to Tuesday, Rearden said in court.
Persons: Charles McGonigal, John F, Oleg Deripaska, Seth DuCharme, McGonigal, Jennifer Rearden, , , Vladimir Potanin, Deripaska, Rearden Organizations: CNN, FBI’s, FBI, Emergency Economic, US, Office, Southern, of, Kennedy International Airport Locations: York, Russian, of New York, New York, Washington, Albanian, Albania, McGonigal, United States
[1/3] Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., August 15, 2023. At the time, McGonigal pleaded not guilty to four criminal counts including sanctions violations and money laundering. McGonigal told the court he was "deeply remorseful" for his actions. U.S. District Judge Jennifer Rearden is scheduled to sentence McGonigal on Dec. 14. U.S. prosecutors charged McGonigal as they ramped up efforts to enforce sanctions on Russian officials and police their suspected enablers following the Russian invasion of Ukraine in February 2022.
Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, McGonigal, Vladimir Potanin, Seth DuCharme, Jennifer Rearden, Matthew Olsen, Washington, Jody Godoy, Grant McCool Organizations: FBI, Court, REUTERS, Prosecutors, Deripaska, U.S . Department of Justice's National Security Division, Kremlin, Thomson Locations: Russian, New York City, U.S, New York, Manhattan, Russia, Cyprus, New Jersey, Ukraine, Nornickel
A former senior F.B.I. official is in talks to resolve criminal charges in two separate indictments, including entering a possible guilty plea as early as next week in a case involving accusations that he worked for a Russian oligarch, according to a public filing and statements by his lawyer in court. Mr. McGonigal was also charged by federal prosecutors in Washington with concealing his relationship with a businessman who paid him $225,000, as well misleading the F.B.I. about his contacts with foreign nationals and foreign travel, creating a conflict of interest with his official duties. Mr. McGonigal pleaded not guilty to both indictments.
Persons: Charles F, McGonigal, Oleg Deripaska, Vladimir V, Putin, Jennifer H, Locations: Russian, York, New York, Washington
CNN —The former head of counterintelligence at the FBI’s New York office is in talks to plead guilty to charges relating to work he allegedly did for a sanctioned Russian oligarch after leaving the government, according to a court order. Charles McGonigal was indicated earlier this year on charges, including violating US sanctions, conspiracy, and money laundering for working in 2021 with Russian oligarch Oleg Deripaska, who was sanctioned for interfering in the 2016 US presidential election. The same day McGonigal was charged in a separate case in Washington for concealing $225,000 he allegedly received from a former Albanian intelligence employee. McGonigal, who is one of the highest-ranking former FBI officials to be charged with a crime, has pleaded not guilty to both indictments. No further details were included in the brief court order setting the plea proceeding.
Persons: Charles McGonigal, Oleg Deripaska, McGonigal, Jennifer Reardon, , Seth DuCharme Organizations: CNN, Labor Locations: York, Russian, Washington, Albanian, Albania
Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., March 8, 2023. REUTERS/Brendan McDermid/File PhotoCompanies OK Rusal MKPAO FollowNEW YORK, Aug 7 (Reuters) - A former FBI agent accused by U.S. prosecutors of working for sanctioned Russian oligarch Oleg Deripaska may change his plea in relation to criminal charges of evading U.S. sanctions and money laundering, court records showed on Monday. A change of plea hearing before U.S. District Judge Jennifer Rearden in Manhattan has been scheduled for Aug. 15. The charges against McGonigal came as U.S. prosecutors ramped up efforts to enforce sanctions on Russian officials and police their alleged enablers in response to the invasion of Ukraine. Reporting by Luc Cohen in New York; Editing by Mark Porter and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, Jennifer Rearden, McGonigal, oligarch, Russia's, Luc Cohen, Mark Porter, Conor Humphries Organizations: FBI, Court, REUTERS, U.S, Deripaska, Kremlin, Thomson Locations: Russian, New York City, U.S, Manhattan, New York, Ukraine, Washington
Andrew Adams, who has led the "KleptoCapture" task force since its inception in March 2022, will be replaced by his deputies Michael Khoo and David Lim, a DOJ spokesperson said. "It was a privilege to cap this time in service of the Department's response to the war in Ukraine," Adams, a 10-year Justice Department veteran, wrote in a LinkedIn post. In launching the task force, U.S. Attorney General Merrick Garland said it would enforce sanctions and export controls designed to freeze Russia out of global markets, and confiscate assets obtained through unlawful conduct. During Adams' tenure, the unit unveiled indictments against aluminum magnate Oleg Deripaska and TV tycoon Konstantin Malofeyev for alleged sanctions busting, and seized yachts belonging to sanctioned oligarchs Suleiman Kerimov and Viktor Vekselberg. Reporting by Luc Cohen in New York; Additional reporting by Sarah N. Lynch in Washingon, D.C.; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Adams, Michael Khoo, David Lim, Adams, General Merrick Garland, Oleg Deripaska, Konstantin Malofeyev, Suleiman Kerimov, Viktor Vekselberg, Artem Uss, Khoo, Lim, Luc Cohen, Sarah N, Lynch, Daniel Wallis Organizations: U.S . Department, Reuters, Department of Justice, DOJ, Department, Vekselberg's, Huawei Technologies, Iran, Airbus, D.C, Thomson Locations: Moscow, Ukraine, New York City , New York, U.S, Russia, York, Russian, Italy, New York, Washingon
Putin: Sanctions could hurt Russia's economy
  + stars: | 2023-03-30 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —President Vladimir Putin has conceded that Western sanctions designed to starve the Kremlin of funds for its invasion of Ukraine could deal a blow to Russia’s economy. “The illegitimate restrictions imposed on the Russian economy may indeed have a negative impact on it in the medium term,” Putin said in televised remarks Wednesday reported by state news agency TASS. It is a rare admission by the Russian leader, who has repeatedly insisted that Russia’s economy remains resilient and that sanctions have hurt Western countries by driving up inflation and energy prices. Putin said Russia’s economy had been growing since July, thanks in part to stronger ties with “countries of the East and South,” likely referring to China and some African countries. Russia’s economy has showed surprising resilience to unprecedented sanctions imposed by the West, including an EU ban on most imports of oil products.
One year after Russia invaded Ukraine, just 520 firms have fully exited Russia, per a Yale study. Quite simply, it's just not that straightforward for a company to get out of Russia right now — and there are three main reasons why. Companies have been trying to exit Russia in an orderly fashionMany companies were quick to announce their intent to leave the Russian market after it invaded Ukraine. Thus, companies that want to exit Russia are pressed to find buyers for their Russian operations who would continue running the business under a different brand. Multinational companies face operation challenges in their exitsBecause many foreign companies operating in Russia are multinationals, shutting operations in the country can have a domino effect on their businesses elsewhere.
LONDON, March 22 (Reuters) - Russian aluminium tycoon Oleg Deripaska on Wednesday denied lying about the relocation of EN+ Group from Jersey to Russia to avoid U.S. sanctions, as he fights his former business partner's attempt to jail him at London's High Court. Chernukhin's lawyers argue Deripaska breached an undertaking to preserve 45.5 million EN+ shares in Jersey to meet a $95 million debt to Chernukhin, which has since been paid in full. Jonathan Crow, representing Chernukhin, said on Tuesday that the shares were rendered "worthless" because of the difficulty in enforcing debts against Deripaska in Russia. But Deripaska, who denies breaching the undertaking, argues the EN+ shares would have been worthless if the company was not redomiciled as the company would have been bankrupted. Grant also said U.S. charges for allegedly violating sanctions could have prompted U.S. authorities to seek Deripaska's extradition from London.
[1/4] Russia's President Vladimir Putin attends a forum of the Russian Union of Industrialists and Entrepreneurs (RSPP) in Moscow, Russia, March 16, 2023. MOSCOW, March 16 (Reuters) - President Vladimir Putin urged Russia's billionaires on Thursday to put patriotism before profit, telling them to invest at home to shore up the economy in the face of Western sanctions. Addressing Russia's business elite in person for the first time since the day he sent his troops into Ukraine on Feb. 24 last year, Putin told them their role was not just to make money but to support society. Last month he told business leaders that ordinary Russians had no sympathy for the confiscation of their yachts and palaces. ECONOMY RESISTS SANCTIONSThe president said on Thursday that what he called an attempt to destroy Russia's economy with sanctions had failed.
The Kremlin said Russia will not be impacted by the US bank crisis. Sanctions over the Ukraine war have cut Russia off from the international financial system. Russia is now so cut off from the global financial system that the Kremlin thinks it will face no impact from the collapse of Silicon Valley Bank. In contrast, Russia — like much of the world — faced a credit crunch due to the fallout from the US subprime mortgage crisis in 2008, which ultimately led to the Global Financial Crisis. As the country recovered from the recession, it started working towards its grand ambition of making Moscow a global financial hub.
Russia may run out of money in 2024, says oligarch
  + stars: | 2023-03-03 | by ( Olesya Dmitracova | ) edition.cnn.com   time to read: +2 min
London CNN —Russia could find itself with no money as soon as next year and needs foreign investment, outspoken Russian oligarch Oleg Deripaska has said. Putin praised the resilience of the country’s economy in the face of unprecedented Western sanctions imposed in the past year. Russia’s economic output shrank 2.1% last year, according to a preliminary estimate from the government. But cracks are starting to show — Russia is cutting oil production this month — and Western sanctions could escalate further. Ultimately, Russia’s economic prospects are contingent on what happens in Ukraine.
Aluminum tycoon Oleg Deripaska warned Thursday that Russia may run out of money in 2024. Deripaska said Russia needs foreign investors due to "serious" pressure from western sanctions. Deripaska, who founded Rusal, one of the world's biggest aluminum producers, said the gloomy economic outlook was due to "serious" pressure from western sanctions, per the report. The US has imposed more than 2,700 sanctions against Russia, more than any other country, according to the Atlantic Council's database. He told the forum that Russia needed to ensure a safe business climate for foreign investors, Bloomberg reported.
Russian oligarchs' superyachts were detected in different regions after the Ukraine war began. Heat maps show oligarchs' yachts have avoided America's west coast and the Mediterranean. The MediterraneanSpire MaritimeSpire's data found that the Mediterranean was a hotspot for Russian oligarchs' superyachts before Russia invaded Ukraine. Turkey still offers a safe haven for Russian oligarchs' assets because it's yet to sanction Russia for its aggression against Ukraine. Arabian SeaSpire MaritimeSpire's data also honed in on the movements of Russian oligarchs' yachts around the Arabian Sea.
Lawmakers on both sides of the aisle want Merrick Garland to debrief them about DOJ investigations. Garland is scheduled to join the Senate Judiciary Committee on March 1 for a general oversight hearing — his first of the 118th Congress. In early February, both Durbin and his Republican counterparts leading the House Judiciary Committee requested briefings about McGonigal. The Senate letter requested information from Garland and FBI Director Christopher Wray; the House letter was addressed to Wray but not Garland. "Everything is on the table," a staff member from House Judiciary told Insider.
An FBI spy chief's secret meeting with a Russian contact was detected by UK officials. McGonigal should have realized that the London meeting would be noticed, one source said. During his years in New York, McGonigal oversaw 150 FBI agents tasked with shadowing foreign operatives and turning them into spies for the US. He would have had intimate knowledge of surveillance penetration in world capitals, which makes the London meeting all the more mystifying. McGonigal had investigated Russian operatives earlier in his career, but it is unclear whether he was involved with the FBI's Deripaska recruitment effort.
Western policy-makers are still mindful of the supply-chain chaos caused by U.S. sanctions on Russian aluminium giant Rusal and its owner Oleg Deripaska in 2018. A unilateral move to shut out Russian aluminium will accelerate the splintering of what was once a highly globalised market-place. Excess Chinese product in the Asian region is now being supplemented by excess Russian primary aluminium as many Western users choose to self-sanction and not buy Russian metal. Were the United States to impose high tariffs on Russian metal, the LME need only suspend delivery to U.S. locations, a precedent set with the United Kingdom's post-war tariffs on Russian nickel. The LME decided in November not preemptively to ban Russian metal deliveries ahead of formal government action against Russian producers.
Total: 25