Russia's Trillion-Rouble Property Seizure: State Gains Control of Key Assets

Russia has seized property valued at 2.4 trillion roubles, converting them for state use, as Prosecutor General Igor Krasnov announced. The assets include significant domestic enterprises previously under foreign influence. This move intensifies as Moscow aims for strategic stability amidst ongoing geopolitical tensions.

In a bold move to consolidate control, Russia has acquired assets worth 2.4 trillion roubles, Prosecutor General Igor Krasnov announced this Wednesday. This acquisition comes amid heightened geopolitical tensions following the conflict onset in Ukraine.

Moscow's courts have expedited asset seizures this year, ruling in favor of transferring assets like prominent grain traders and the Domodedovo airport to state ownership. Krasnov informed President Vladimir Putin that five critical enterprises, previously under foreign administrations, are now owned by the state.

Krasnov accused certain owners of reallocating profits abroad and neglecting tax responsibilities. As the climate for foreign businesses in Russia remains tense, this trend of state seizures appears to align with Moscow's strategy for domestic and strategic stability.

(With inputs from agencies.)