Rush of Asset-Seizure Cases Puts Putin’s Tycoons on High Alert
- Prosecutors open dozens of cases to seize tycoons’ holdings
- Russia seizes assets ranging from pasta to ferro-alloys plants
Tubes of tortiglioni pasta move along a conveyor.
Source: Bloomberg
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Russian businesses are seeking guarantees from the Kremlin that they won’t face asset seizures and privatization reviews amid a growing list of cases where assets owned by local tycoons for decades are being nationalized.
Russia is seeing more cases of assets owned by local tycoons since the 1990s being nationalized, prompting businesses to seek guarantees from the Kremlin that they won’t face privatization reviews.