Kremlin’s $50 Billion Asset Grab Deepens Russian Economic Woes

Asset seizures are surging in Russia, further clouding the outlook for the country’s slowing economy even as they help shore up increasingly depleted state coffers.

The total value of confiscated property since 2022 has reached 3.9 trillion rubles ($49.5 billion), according to estimates from lawyers at the firm Nektorov, Saveliev & Partners in Moscow, which specializes in corporate law and has closely followed these cases. Over the past 12 months, the total value of seized assets has tripled.