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

“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 from 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 list drawn up “includes approximately 500 goods and assets related to to various companies and banks, tourist and sports infrastructure”.

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 Kolomoïski, 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 communicated.

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 made in the press release published by the regional Parliament.

This announcement comes amid debate among Russia's ruling elites over the potential seizure of other assets – real estate and financial assets – those belonging to Russians who have left the country and who are criticizing the Russian military campaign from abroad. Kremlin in Ukraine.

Russia has taken over established 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.