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Strabag shareholder Rasperia put on EU sanctions list – Economy –

Strabag shareholder Rasperia put on EU sanctions list – Economy –

Strabag, Rasperia's main shareholder, on EU sanctions list

The European Union announced on Friday evening that the European Union has placed Rasperia Trading Limited, owned by Russian investor Oleg Deripaska and a major shareholder in the construction group Strabag, on its sanctions list. “The background to the sanction is a fraudulent transaction in relation to the shareholding in Strabag,” the statement said. The Reserve Bank of India tried to acquire Deripaska’s shares in Strabag through a Russian company, which was thwarted by pressure from the United States.

Rasperia Iliadis' parent company, to which Strabag shares were transferred, was also subject to sanctions, Strabag wrote. The individuals and entities now sanctioned by the European Union were placed on the US sanctions list in mid-May.

The company confirms that Strabag itself and its subsidiaries are not subject to sanctions. Deripaska's shares, which own 24.1% of Strabag, and all associated rights have been frozen for some time. “The inclusion of Rasperia on the EU sanctions list will not lead to any changes in STRABAG SE itself or the way we deal with the block of shares held by Rasperia,” the company said. Strabag is determined to respect and comply with all applicable sanctions. “We see ourselves as stronger in our position that all rights to the shares remain frozen.”