The owner of the Renova group, Viktor Vekselberg, intends to appeal to the court against the sanctions imposed on him and his companies by the US authorities.
“My position is simple: the sanctions are illegal and unfair, I will sue,” Vekselberg told reporters when asked if he was negotiating with the US Treasury about the possibility of lifting the sanctions (quoted by RIA Novosti).
At the same time, Vekselberg did not specify when exactly and to which court the claim would be filed.
Later, the official representative of the Renova Group of Companies Andrei Shtorkh explained to RBC that this is not a litigation in court, but an appeal against the decision to include in the sanctions lists in the Ministry of Finance of the United States itself.
“We consider the sanctions unjustified and intend to appeal their introduction in the prescribed manner,” said Storch.
The US authorities included Vekselberg and Renova on the SDN sanctions list, published April 6, 2018. Assets of individuals and legal entities from the SDN list are subject to blocking in the US jurisdiction, US citizens and companies can not conduct business with them. In addition, physical persons are prohibited from entering the United States. The Ministry of Finance threatened to introduce secondary sanctions against individuals conducting transactions in the interests or on behalf of the defendants of the SDN list.
In April 2018, Reuters reported blocking payroll accounts of several employees of the Renova Swiss office and the dollar accounts of the company itself. In June, Forbes reported that Swiss banks, including Julius Baer, blocked approximately 1 billion francs in Vekselberg’s personal accounts.
Against the background of the imposition of sanctions, Vekselberg began to reduce the size of his shares in the capital of a number of companies. In particular, the shares of Vekselberg in the Swiss companies OC Oerlikon and Schmolz + Bichenbach were reduced. In addition, after the introduction of sanctions, Renova reduced the size of its shares in the Swiss engineering company Sulzer (from 63.42 to 48.83%), the Russian energy company Hevel (from 51 to 46%) and the largest private heat generating company in Russia "T Plus" (from 57.1 to 39.59%).