Putin ally Oleg Deripaska sues Treasury to block sanctions, claims ‘utter devastation‘ of his wealth

Businessman Oleg Deripaska, who is known as an ally of Russian President Vladimir Putin, is suing the U.S. Treasury Department to lift sanctions imposed on him, a court filing revealed Friday.

Derpiaska‘s lawsuit demands that his name be removed from a list of sanctioned individuals, and that the Treasury‘s Office of Foreign Assets Control, or OFAC, cancel their decision to label him an “oligarch” and disclose records related to him.

He claims that his net worth has fallen by more than $7.5 billion, or about 81 percent, since the sanctions on him were imposed.