Kremlin Has Nationalized $50Bln in Assets Since Ukraine Invasion
How did your country report this? Share your view in the comments.
Diverging Reports Breakdown
Kremlin Has Nationalized $50Bln in Assets Since Ukraine Invasion – Report
Russia has nationalized $50 billion worth of private assets since the full-scale invasion of Ukraine, according to a new report. The sum is roughly equivalent to the country’s annual budget deficit or one-third of its annual military expenditures.
The sum is roughly equivalent to the country’s annual budget deficit or one-third of its annual military expenditures.
NSP documented 102 cases of asset seizure from private owners since the invasion in February 2022, spanning a broad range of industries but are concentrated in strategic sectors seen as vital to sustaining Russia’s war effort.
“The Kremlin is solving two problems at once,” Andrei Yakovlev, a fellow at Harvard University’s Davis Center for Russian and Eurasian Studies, told Bloomberg. Reselling these nationalized businesses both brings in revenue and “reshapes the business elite so their fate is tied to the regime’s survival.”
Russia’s Constitutional Court in 2024 abolished the statute of limitations for privatization deals, effectively opening the door for authorities to reexamine, and in many cases reverse, transactions dating back to the 1990s.