Viktor Vekselberg
- Viktor Vekselberg is a Russian oligarch closely related to Putin, who has made his fortune from precious metals during the post Soviet Union state assets sellout frenzy.
- Vekselberg controls his Russian holdings via Renova Group, the holding company at the top of his structure.
- Throughout the years, Vekselberg has invested a fortune in American technology companies. He has done so via Renova’s US daughter company: Columbus Nova LLC. – a holding company managing $2bn of Vekselberg’s funds, and an obscure network of companies, funds, and special purpose corporate vehicles that were used to purchase assets, real estate, and company shares.
- The manager of Vekselberg’s American operation is Andrew Intrater, his cousin.
- In 2017 and 2018, at the height of the “Russia Gate” political scandal, Vekselberg became a household name. It emerged that Intrater had donated Vekselberg’s money to the Donald Trump campaign, and had paid over a million dollars in consulting fees to Michael Cohen – Trump’s personal lawyer at the time.
At the time the focus was on how Veskelberg’s money had been used by Intrater to fund Trump, but it was then revealed that Vekselberg was controlling strategically important American technology companies.
Imposition of sanctions on Vekselberg and his Assets
- In April 2018, OFAC sanctioned Vekselberg [for his connection to Putin’s actions in Ukraine] and froze his assets.
- Renova Group was designated for being owned or controlled by Vekselberg.
- OFAC prohibits US citizens and companies from dealing with designated individuals and their assets, appearing on the SDN list.
- This prohibition includes Renova US Management LLC and various other companies and funds Intrater was managing at the time of the designation.
Vekselberg and his assets were redesignated [sanctions “renewed”] in 2022.