‘Fortress Russia’ has confiscated $50 billion in assets over three years, Kommersant says
The Kommersant newspaper, Moscow (Reuters) -Russia has confiscated assets worth 3.9 trillion rubles or approximately $ 50 billion in the last three years and underlined the “Kale Russia” economic model in the last three years.
Foreign companies, because Russia sent troops to Ukraine in February 2022, but by talking about strategic stability and internal security, Moscow has increased the attention of Moscow into indigenous assets because foreign companies struggled with the risk of seizing the state.
The size of asset seizures calculated by the NSP law firm shows the scope of the transition of Kommersant, one of the most respected newspapers in Russia, to a relatively open economy of Russia to the “castle” model.
The law firm advised business owners to throw potential weak spots that could be used to seize assets, including the countries that Russia classified as “hostile” and second passports or economic ties.
He also claimed that owners should consider entering the business world with state partners.
Kommersant said that the law of strategic companies has been handled in 1,07 trillion rubles, 385 billion rubles, and 385 billion rubles due to ineffective management allegations.
The 1991 decline of the Soviet Union revealed the hope that Russia could turn into an open free market economy integrated into the global economy, but great corruption, economic turmoil and crime weakened the confidence in democratic capitalism in the 1990s.
President Vladimir Putin supported economic freedoms in the first eight in ruling, targeted some oligarks and presided on significant economic growth, and found that the economy rose from 200 billion dollars to $ 2008 in 2008 to $ 1.8 trillion.
According to the figures from the International Monetary Fund, the economy rose to $ 2.3 trillion in 2008-2022, but after Russia annexed the Crimea in 2014, Western sanctions hardened.
According to the IMF figures, although the Russian economy performed better than expected during the war in Ukraine, the nominal dollar size in 2024 was only 2.2 trillion dollars.
(1 $ = 78.2000 rubles)
(Reporting by Guy Faulconbridge, editing by Louise Heavens)
