Russia’s economy is weakening: Moscow confiscated billions of assets

Putin’s economy

Russia confiscated billions – also from western companies

The Russian economy has been struggling with the western sanctions for a long time. In order for the business to continue, the country is already calculating expropriations.

Since the beginning of the Russian invasion of Ukraine, Moscow has also filled its coffers with private assets. As “Business Insider” reports, Russia has reached the equivalent of around 43 billion euros since 2022. This emerges from a report by the Russian law firm Nectorov, Saveliev and Partner, according to the business magazine.

Western companies are also said to have been expropriated on a large scale. In total, a total of 102 assets were confiscated by the Russian state. As Finance Minister Anton Siluanov explained in March, Russia wants to take another 1.1 billion euros this year.

The normal process is that these companies were sold by the state-partly to the state itself. In addition to the possession of the French food company Danone, the car dealer Rolf, who belonged to a Kremlin critic, who has now lived in exile, was confiscated. The company should have more than 8,000 employees.

Nevertheless, the signs are slowly increasing that the pressure on the Russian economy is growing. The Russian guiding index Moex recorded clear losses – in a week comparison, the index is 9.5 percent less worth.

The “world” said the Russian -born economist Vladislav Inozemcew: “The Russian economy can hardly wait for peace.” Due to the tense location, the markets would be severely unpatted the slightest signs.