Turbulent Times

Sanctioned Russian Oligarch Forced to Hand Back Private Jets

Oleg Deripaska has been hit hard by sanctions.

The package of U.S. sanctions against Russian oligarchs has hit one where it really hurts—his fleet of private jets. Aluminum tycoon Oleg Deripaska, believed to be part of Vladimir Putin’s inner circle, has been forced to hand back three private jets he was leasing because sanctions imposed on him last month make it impossible to keep using the planes. Deripaska—also known to have close links to former Donald Trump campaign manager Paul Manafort—appears to have been hit particularly hard by the sanctions, with shares in his company, Rusal, nosediving by 50 percent in the wake of the announcement. Russian opposition figure Alexey Navalny previously claimed Deripaska acted as a conduit between the Trump campaign and the Kremlin. His luxury jets are now on sale with an asking price of $29.95 million each, according to Reuters.