In Russia, authorities have begun seizing assets from billionaires on a massive scale
This is reported by Bloomberg in an article on the Kremlin’s pressure on Russian billionaires and the wave of asset confiscations.
Pressure on Russia’s wealthiest businessmen is mounting. The state is increasingly using anti-corruption lawsuits, criminal cases and court rulings to seize assets from entrepreneurs.
According to Bloomberg, this process is already leading to the collapse of business empires and the redistribution of property. Assets often pass into the control of the state or entities closer to the authorities.
One of the most telling cases is that of Vadim Moshkovich, founder of the agricultural company Ros Agro. A Moscow court ordered the seizure of his family’s 49% stake in the company.
What was Moshkovich accused of?
Prosecutors claimed that Moshkovich allegedly violated the ban on combining public service with business whilst serving as a member of the Federation Council between 2006 and 2014.
He is also accused of using his political position for personal gain.
The businessman himself denies the charges. Earlier, in March 2025, he was arrested in connection with another case – on suspicion of fraud.
Following the court’s decision, Moshkovich’s agricultural assets were transferred to the management of an entity linked to the state-owned Rosselkhozbank.
Why Russian billionaires are worried
Bloomberg notes that the Moshkovich case has served as a warning to other members of the Russian elite.
Among the 20 richest Russians according to the Bloomberg index, five either worked in the government or still hold political office.
The risks for such businessmen increased following a 2024 ruling by the Russian Constitutional Court. This ruling allowed the 10-year statute of limitations not to apply to the assets of officials found to be corrupt.
In effect, this means that assets can be reviewed and seized even many years after a businessman has left public office.
How many assets have already been seized
According to the Moscow law firm Nektorov, Saveliev & Partners, last year alone in Russia, assets worth 1.1 trillion roubles, or around $15.1 billion, were seized in anti-corruption cases.
This is roughly eight times more than in 2024, and accounts for about a third of all asset confiscations carried out by the state in 2025.
Ilya Shumanov, head of TriTrace Investigations, told Bloomberg that anti-corruption lawsuits are becoming not just a tool for fighting corruption, but a mechanism for redistributing assets in favour of the state.
Who else has been affected by the confiscations
Bloomberg cites businessman Konstantin Strukov as another example. He lost assets linked to gold mining and the agricultural sector following anti-corruption claims.
Strukov served as a deputy in the Chelyabinsk region for many years, was a member of the United Russia party, and in 2021 received a state award from Vladimir Putin.
This is precisely why his case came as a surprise to parts of the Russian business community: it showed that even loyalty to the authorities does not guarantee protection against asset seizure.
Why this matters to the Kremlin
Against the backdrop of the war against Ukraine, Russia is seeking additional resources for its budget. At the same time, the state is tightening its grip on big business and demonstrating to the elite that their property depends on political loyalty.
Bloomberg reports that Russian billionaires have already tried to persuade the Kremlin to set a clear statute of limitations for reviewing privatisations from the 1990s and early 2000s.
In May, the State Duma did indeed pass a bill introducing a 10-year statute of limitations for reviewing privatisation cases. However, this restriction does not apply to anti-corruption lawsuits against current or former officials.
This means that some of Russia’s wealthiest individuals remain vulnerable.
The problem with selling seized assets
At the same time, seized assets are not always easy to sell.
Bloomberg notes that the state has already faced failed auctions. For example, attempts to sell around 67% of Yuzhuralzoloto and its associated assets proved fruitless even after a Dutch auction was launched.
And Moscow’s Domodedovo Airport was eventually sold for roughly half the initial price after the previous auction failed to attract buyers.
For Russian billionaires, this means one thing: more and more assets may find themselves at risk, and mere participation in the system of power no longer guarantees immunity.
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