US Edition
Russia seizes $50 billion in assets as economy shifts during war in Ukraine, research shows
RUSSIA, JUL 9 – Russia has confiscated about $50 billion in assets over three years under laws targeting corruption and strategic companies as it shifts to a ‘fortress Russia’ economic model.
- Russia confiscated approximately $50 billion in assets over the past three years amid its ongoing conflict with Ukraine.
- This large-scale asset seizure follows the February 2022 troop deployment to Ukraine and intensifies a state-led economic shift under Western sanctions.
- The Kremlin’s economic strategy involves nationalizing foreign holdings, especially from Western firms like Germany’s Uniper and Denmark’s Carlsberg, reflecting a move toward a 'fortress Russia' model.
- Research by Moscow law firm NSP calculated asset seizures amounting to 3.9 trillion roubles and noted a paradigm shift away from post-Soviet free-market ideals.
- These developments suggest a sustained trend toward state-centric control of critical resources amid strategic security concerns, reconfiguring Russia’s domestic economy.
17 Articles
17 Articles
Russia has seized around $50 billion of assets as its wartime economy comes under pressure
Russia's President Vladimir Putin's administration is aiming to raise an additional 100 billion rubles through privatization efforts this year..Mikhail Metzel/Pool/AFP/Getty ImagesRussia has seized $50 billion in assets since invading Ukraine in 2022, according to a Moscow-based law firm.Authorities targeted 102 private assets, including foreign firms like Carlsberg and Danone.Russia's economic resilience is waning, with signs of recession and s…
Fortress Russia: The $50 Billion Asset Shift Amid Ukraine Conflict
Over the past three years, Russian authorities have seized assets worth $50 billion as the country transforms into a 'fortress Russia' economic model amid the Ukraine war. This includes assets from Western firms exiting the market and major Russian companies affected by strategic and corruption claims.
The Straits Times
MSN'Fortress Russia' has confiscated $50 billion in assets over three years, Kommersant says
MOSCOW - Russia has confiscated assets worth 3.9 trillion roubles, or around $50 billion at current exchange rates, over the past three years, underscoring the scale of the transformation into a \"fortress Russia\" economic model, the Kommersant newspaper said. Read more at straitstimes.com.
Coverage Details
Bias Distribution
- 50% of the sources are Center
To view factuality data please Upgrade to Premium
