Russia “nationalizes” Ukrainian assets in annexed Crimea to finance its offensive

Russia announced on Friday that it had “nationalized” in annexed Crimea 500 properties and assets belonging in particular to Ukrainian oligarchs and banks, part of the funds of which will be used to finance the military intervention in Ukraine.

« Crimean parliamentarians supported (the draft law on) the nationalization of the property of Ukrainian oligarchs, the assets of banks and factories operating in the Republic, » said in a statement the regional parliament, installed by Moscow after the annexation of this Ukrainian peninsula in 2014.

According to this press release, the bill was approved unanimously.

The President of the Regional Parliament, Vladimir Konstantinov, indicated on Telegram that the established list “includes approximately 500 goods and assets linked to various companies and banks, tourist and sports infrastructures”.

According to the Ria Novosti and Tass press agencies, the property of Rinat Akhmetov, the richest man in Ukraine, as well as that of billionaire Igor Kolomoiski, a dozen Ukrainian banks, several factories and those belonging to the Dynamo Kyiv football club.

The total amount of « nationalized » property and assets was not immediately disclosed.

But “part of the profits will be intended to support the participants in the” special operation “” in Ukraine, specified Mr. Konstantinov in Ria Novosti, in particular by “giving them plots of land”, according to a clarification provided in the press release. published by the regional parliament.

This announcement comes in the midst of a debate among the Russian ruling elites on the potential seizure of other assets – real estate and financial -, those belonging to Russians who have left the country and criticized the Kremlin’s military campaign in Ukraine from abroad.

Russia appropriated several Ukrainian infrastructures in the annexed regions at the end of September 2022, in particular the Zaporizhia nuclear power plant, located in the eponymous region which Moscow partly controls.


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