Archive · 5 Dec 2025
US Fines Property Firm $7.1M for Dealing with Putin Ally
The U.S. government fined a New York company called Gracetown Inc.
$7.1 million because they broke the rules by managing properties for a rich Russian man named Oleg Deripaska.
The U.S. has sanctions against Deripaska, which means American companies aren't allowed to do business with him.
Gracetown received money from a company owned by Deripaska even after being told not to.
The U.S. says this shows how important it is to follow the rules and that they will punish companies that don't.
Deripaska has been in trouble before for similar reasons and even sued a news organization over a story about him.
U.S. Treasury fined Gracetown Inc. $7.1 million for violating sanctions by managing properties for Oleg Deripaska.
Gracetown received 24 payments totaling $31,250 between April 2018 and May 2020 from a Deripaska-owned company.
OFAC had previously notified Gracetown that dealings with Deripaska were prohibited.
Deripaska has faced U.S. sanctions since 2018 for his ties to the Russian government and energy sector.
Gracetown is linked to U.K. businessman Graham Bonham-Carter, who was arrested in 2022 for conspiracy to violate U.S. sanctions.
- Who
- Gracetown Inc., Oleg Deripaska, U.S. Treasury Department
- What
- Fine imposed for violating sanctions
- When
- Thursday (specific date not mentioned)
- Where
- New York, USA
- Why
- For managing properties for sanctioned Russian oligarch Oleg Deripaska
- Firm Fined
- Gracetown Inc.
- Sanctioned Individual
- Oleg Deripaska
- Time Period
- April 2018 - May 2020
- Number of Payments
- 24
- Sanctions Since
- 2018
- OFAC
- Office of Foreign Assets Control