AFUO hails judicial ruling to ban Russian ‘aluminum king’ Deripaska from entry, business in Australia

The Australian Federation of Ukrainian Organizations (AFUO) welcomes the decision of the Federal Court of Australia to deny an appeal by one of Russia’s richest oligarchs to gain entry into the country and have sanctions lifted levied upon him. 

“Justice upheld,” the AFUO said, regarding Oleg Deripaska, who is considered the “aluminum king” of Russia for his significant dominance in the aluminum industry and majority ownership of Rusal (Russian Aluminium). 

According to Forbes magazine, his net worth in 2024 was $1.2 billion. 

Deripaska was added to Australia’s sanctions list due to his close ties to Russia’s government and as a known ally of Kremlin ruler Vladimir Putin. 

After Australia’s sanctions list in March 2022, which included a ban on his entry to Australia and a prohibition on profiting from his involvement in Queensland Aluminium, the billionaire subsequently took legal action to have the ruling overturned.

However, on March 27, the appeals court upheld the lower court’s ruling, keeping Deripaska on the sanctions list.

“Deripaska – the subject of sanctions in the U.S., Canada and the UK and reportedly a close, personal friend of Putin,” the AFUO said.

He is also prohibited from making money from his stake in Rio Tinto, a British-Australian multinational company that is the world’s second largest metals and mining corporation.

“This principled ruling reaffirms that there ARE consequences for those who support or enable Russia’s illegal and brutal invasion of Ukraine – you cannot hide and you should face consequences for supporting a genocidal regime,” the AFUO said.

The AFUO also described sanctions as a “powerful tool” that can withstand legal challenges when supported by “evidence, law and moral clarity.”

“It’s also a reminder of the strength and independence of Australia’s legal system, a valued asset that russia simply does not possess,” the AFUO said. “This is a just outcome, and a moment to recognise what accountability truly looks like.”

Ukrainian World Congress President Paul Grod visited Australia from March 8 to 22. During his visit, he met with Australia’s Minister for Foreign Affairs, Penny Wong.