Oleg Deripaska, Russian billionaire, listens during a panel session on day three of the St. Petersburg International Economic Forum (SPIEF) in St. Petersburg, Russia, on Friday, June 4, 2021. President Vladimir Putin will host Russias flagship investor showcase as he seeks to demonstrate its stuttering economy is back to business as usual despite continuing risks from Covid-19 and new waves of western sanctions.
Andrey Rudakov—Bloomberg/Getty Images

The Federal Bureau of Investigation raided a Washington mansion linked to sanctioned Russian billionaire Oleg Deripaska in a “court-authorized law enforcement activity” Tuesday.

Aluminum tycoon Deripaska and his companies were targeted by U.S. Treasury Department sanctions in 2018 over his ties to Vladimir Putin in response to Russia’s “malign activity around the globe.”

At the time, Deripaska was forced to relinquish control of United Co. Rusal International PJSC, the largest aluminum producer outside of China, in order to remove it from the sanctions list. Deripaska personally remains under the penalties.

“The FBI really is searching houses that are owned by Deripaska’s family members,” a spokeswoman for the tycoon said. “This is done based on two court orders linked to American sanctions. Those houses are in New York and Washington, but Oleg Deripaska doesn’t own them.”

Rusal shares closed down 5.7% to 79.18 rubles in Moscow, the largest drop since June.

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