Since the invasion of Ukraine in 2022, Russia has confiscated assets worth nearly 3.9 trillion rubles, equivalent to about $50 billion. The seizures involved 102 private assets across various sectors, including notable foreign companies like Carlsberg and Danone. The Kremlin justified these actions citing reasons like corruption and extremism. In efforts to bolster its federal budget, the Russian government aims to raise at least 100 billion rubles from seized asset sales amid indications of a faltering economy and slowed GDP growth.
Since its full-scale invasion of Ukraine in 2022, Russia has confiscated nearly 3.9 trillion rubles, equivalent to approximately $50 billion, from 102 private assets.
The seized assets include foreign firms like Carlsberg and Danone, justified by the Kremlin through claims of corruption and extremism.
With signs of a faltering economy and sweeping Western sanctions, the Russian government has set a target of raising 100 billion rubles from sales of seized assets in 2024.
Russia's GDP growth slowed to 1.4% in the first quarter of this year, down from 4.5% in the previous quarter, indicating economic struggles.
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