Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Russian tycoon Deripaska blasts FBI raids on properties

Published 10/20/2021, 08:25 AM
Updated 10/20/2021, 08:31 AM
© Reuters. FILE PHOTO: FBI agents carry items as an agent stands watch during the U.S. law enforcement agency's raid at Russian oligarch Oleg Deripaska's home in Washington, U.S., October 19, 2021. REUTERS/Tom Brenner

MOSCOW (Reuters) - Russian metals tycoon Oleg Deripaska attacked U.S. "stupidity" in a mocking social media post on Wednesday after FBI agents raided Washington and New York properties linked to his family.

Washington imposed sanctions on Deripaska, 53, and other influential Russians in 2018 because of their ties to President Vladimir Putin after alleged Russian interference in the 2016 election, which Moscow denies.

"Watching everything that is happening in America, I cannot help but marvel at the utter stupidity of part of the American establishment who persist in spinning this story about the allegedly colossal role of the Russians in the 2016 U.S. presidential election," Deripaska said.

"It is convenient to feed one's electorate (brought up on Hollywood movies about horrible Russians) with all sorts of crap for another 10 years," he added.

The two homes that, according to Deripaska, belong to his relatives were raided by the FBI on Tuesday. Two sources familiar with the investigation told Reuters the U.S. Attorney's office in Manhattan was leading the probe.

Deripaska said in his social media post that no one was living in the properties.

"I have to ask: how much of Putin's money was found in those abandoned houses yesterday?" he said, sarcastically inquiring whether investigators had discovered any mouldy jam or vodka in the cupboards.

Deripaska is the founder of Russian aluminium giant Rusal, in which he still owns a stake via his shares in its parent company En+ Group. Deripaska relinquished control in both in 2018 as part of his deal with Washington that removed those companies from the blacklist but kept him on it.

© Reuters. FILE PHOTO: FBI agents carry items as an agent stands watch during the U.S. law enforcement agency's raid at Russian oligarch Oleg Deripaska's home in Washington, U.S., October 19, 2021. REUTERS/Tom Brenner

Rusal's Hong Kong-listed shares were down 3% on Wednesday.

The Kremlin declined to comment when asked about the FBI raids on Wednesday, adding that it did not know what prompted the searches but was ready to defend the rights and interests of Russian citizens if they were affected.

Latest comments

Remember the fake Russian collusion that was not proven, Democrats still spinning that. When in fact Joe Biden should be worried about rampant inflation he has created.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.