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Ukraine seizes $50 million worth of bauxite and alumina from Russian magnate Deripaska

Oleg Deripaska (Photo by Greg Beadle, World Economic Forum)

Ukraine has seized UAH 2.11 billion ($50.3 million) worth of raw materials from Russian aluminum tycoon Oleg Deripaska, two years after blocking their export, the Security Service of Ukraine (SSU) said on Wednesday.

The SSU reported that nearly 500,000 metric tons of bauxite and alumina, stored at the Mykolaiv Alumina Plant, were confiscated. The plant, along with other Deripaska-owned factories, was nationalized by Ukraine following Russia's full-scale invasion.

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