LONDON (Reuters) - The British government is colluding with people who raid private property and showing disrespect for the rule of law, a spokeswoman for Russian billionaire Oleg Deripaska said on Monday after squatters occupied a family property.
Deripaska was sanctioned by Britain last week and on Monday police sought to evict squatters from a London mansion suspected of belonging to him. Deripaska's spokeswoman said it belonged to members of his family.
(Reporting by Guy Faulconbridge and Alistair Smout)
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Head of Rusal, the world leader in aluminium, Oleg Deripaska is a major figure among Russian oligarchs. He manages the holding Basic Element, an empire that is today from auto to insurance, trough aviation and energy.
Graduated in nuclear physic at University of Moscow, Deripaska began his activity as trader of metals. He takes advantage from privatization initiated by Boris Yeltsin to buy stakes in aluminium companies.
At twenty six years old after he won a majority of workers’ shares in the aluminium company in Sayansk (Siberia) he became director.
In the 80’s, a struggle for control of the aluminium market is started, between traders and red barons of industry.
In 2000, the Rusal is created. So many people protest in order to underline the conflict of interest which had involved the company’s creation. The strong connection between political ambience and business is also criticized by many western media.
In October 2006, Rusal merged with its rival Sual, and thanks to cooperation with Swiss company of trading Glencore, and also with Putin’s support, he created UC Rusal the world leader in aluminium. Valued $30 billion, 66% owned by Rusal’s shareholders, 22% by Sual and at least Glencore with 12%, and it employs 115 000 employers in 17 countries on five continent.
With his holding Basic Element, Oleg Deriparska brought 38% of the group that manages the development of finance district in Russian capital, Moscow-city launched in 1992 by Russian authorities.
In 2009, during the financial crisis, the Oleg Deriparska’s business is struck down by sharp fall of commodities’ prices. In fact, he passed from 9th place in Forbes’ ranking in 2008 to 57th place in 2010. He rose at 36th place in 2011 with fortune estimated at $ 16.8 billion.
| Linked companies | |
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Basic Element LLC
 Basic Element LLC Investment ManagersFinance Basic Element LLC (Basic Element) is a private equity subsidiary of Basic Element UK Ltd founded in 1997 by Oleg Vladimirovich Deripaska. The firm is headquartered in Moscow, Russia. | Founder |
AKME-Engineering OJSC
 AKME-Engineering OJSC Industrial MachineryProducer Manufacturing AKME-Engineering OJSC is a Russian company that manufactures nuclear reactors. The joint venture company is based in Moscow, Russian Federation. The CEO of the company is Vladimir Viktorovich Petrochenko. | Chairman |
