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Sanctioned Russian oil tycoon resigns

Russia’s largest independent oil company Lukoil announced on Thursday that its president, Vagit Alekperov, is stepping down from his post and quitting as a member of the firm’s board of directors. Alekperov became company president in 1993. Relevant notices have been sent to the chairman of the company’s board of …

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Russian tycoon wants pension age lowered to 45

Russia needs a new pension reform that would lower the pension age to 45, businessman Oleg Deripaska, founder of aluminum giant Rusal and, for a time in the late 2000s, Russia’s richest man, told the news outlet Expert. He believes the assets of state-owned companies could be used to fund …

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Sanctions on tycoon’s empire dropped except for yacht and jet

The US Treasury has withdrawn businessman Alisher Usmanov’s companies from sanctions lists, on the same day it imposed them, leaving only his superyacht and private aircraft blocked. Announcing on March 3 that Usmanov had been put on the Office of Foreign Assets Control (OFAC)’s Specially Designated Nationals and Blocked Persons …

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Italy seizes yacht of Russian steel tycoon

Italian authorities have seized a massive yacht owned by Russian metals magnate Alexey Mordashov in a bid to enforce the European Union’s penalties on Moscow, the prime minister’s office said, amid additional reports that a second craft was captured by police under the same sanctions. A spokesperson for Italian PM …

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Russian tycoon settles ‘Putin’s People’ libel suit

The billionaire brought the suit in response to the 2020 book ‘Putin’s People’, in which author Catherine Belton chronicled Putin’s rise to power and alleged, among other things, that he had directed Abramovich to buy the club in 2003 to expand Russian influence in the West. HarperCollins, the book’s publisher, …

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