Russian billionaire oligarch Oleg Deripaska – an ally of president Vladimir Putin – sued the Treasury Department and Treasury Secretary Steven Mnuchin, seeking a U.S. court order lifting sanctions against him.
In his lawsuit filed on Friday, Deripaska claimed he was “the latest victim” of “political infighting and ongoing reaction to Russia’s purported interference” with the 2016 U.S. presidential election. He also accused the Treasury of unfairly and illegally targeted him, which resulted in his net worth dropping by $7.5 billion due to the sanctions.
The sanctions have resulted in “the utter devastation of Deripaska’s wealth, reputation and economic livelihood,’’ according to the complaint, filed in a Washington federal court. “Deripaska has been effectively shut out from the international business community and the global financial system.’’
As Bloomberg first reported, the Treasury Department’s actions were arbitrary and capricious, Deripaska claims, and violated the Administrative Procedures Act. He asked the court to intervene, seeking an…