US EditionRussia 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.
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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.
·India
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The Straits TimesReposted by 
MSN
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.
·Singapore
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Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
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