Russian oligarch Oleg Deripaska. Photo: KBN News
On June 17, a trial will begin in New York against former Soviet diplomat and U.S. citizen Sergei Shestakov. Shestakov stands accused of helping Russian oligarch Oleg Deripaska circumvent U.S. sanctions, of conspiring to launder money, and of making false statements to the FBI. In December 2023, as part of the same case, the former head of the FBI’s counterintelligence team in New York, Charles McGonigal, was sentenced to four years and two months in prison after pleading guilty.
According to prosecutors, Shestakov and McGonigal worked with Yevgeny Fokin, an employee of Deripaska’s EN+ Group. The FBI identifies Fokin as an agent of Russia’s Foreign Intelligence Service (SVR). Court documents state that Shestakov introduced Fokin to McGonigal in 2018 — the same year the U.S. Treasury imposed sanctions on Deripaska, EN+, and aluminium giant Rusal. Prosecutors argue that the defendants acted in Deripaska’s interests, while the defense claims that they were merely lobbying on behalf of EN+ (which was removed from the sanctions list in 2019).
The FBI also alleges that Deripaska hired the defendants in part to gather compromising material on his business rival, fellow Russian metals tycoon Vladimir Potanin. Prosecutors further claim McGonigal tried to secure an NYPD internship for Fokin’s daughter and even considered recruiting Fokin as a double agent.
Shestakov, a former official in the Soviet and Russian Foreign Ministry, moved to the U.S. in the 1990s, obtained American citizenship, and became a certified court interpreter in federal courts in New York. His ties to Fokin and Deripaska reportedly continued for years; in 2019, Shestakov held a credit card under the name of the oligarch Vladimir Gusinsky, with whom both he and Fokin had previously worked.
Fokin, whom the defense plans to call as a witness, has refused to travel to the U.S. due to fears of arrest. Both sides have agreed that he will testify via video link. He remains an adviser to Deripaska at EN+ and is reportedly residing in Russia.
Shestakov’s relationship with Deripaska is especially notable given The Insider's findings that the oligarch’s business empire continues to profit from its ties to the Russian military-industrial complex — despite attempts to obscure that activity following the invasion of Ukraine. Although Deripaska formally divested from the Military Industrial Company (VPK) in 2019, longtime associates of his still hold key roles within the organization, which manufactures armored vehicles used in the war. Deripaska also retains a Russian diplomatic passport and maintains ties with top government officials, including Foreign Minister Sergey Lavrov.