Russia seizes $11 billion in private assets as state control surges in 2025
Russian courts ordered the nationalisation of 24 major assets in 2025, totalling $11.03 billion in value. This marked a sharp increase from previous years, with the state seizing three times more assets than in 2024. The surge reflects broader legal measures enabling large-scale transfers of private businesses to government control.
The largest deal involved companies once owned by Oleg Kan, now transferred to Rosimushchestvo for $4.3 billion. Another key seizure was a 67.85% stake in Yuzhuralzoloto, taken from Konstantin Strukov and valued at nearly $2 billion. These moves followed a series of laws expanding state authority over private enterprises.
Since 2022, Russia has introduced multiple legal tools to justify nationalisations. Federal Law No. 72-FZ (March 2022) allowed external administration of assets tied to 'unfriendly' foreign investors. Presidential Decree No. 302 (April 2023) authorised seizures from administrators deemed 'unreliable'. Later, Federal Law No. 390-FZ (October 2024) extended state control over strategic firms, particularly those with alleged Western connections.
The impact on Russia's financial markets was significant. Nationalisation deals made up 27.6% of the country's mergers and acquisitions activity in 2025, compared to just 7.2% the year before. Revenue from selling these seized assets also climbed, exceeding 100 billion rubles ($1.1 billion) in 2025.
The 2025 nationalisations brought $11.03 billion in assets under state control, far surpassing earlier figures. Legal frameworks introduced since 2022 have enabled the government to target businesses linked to foreign interests or deemed unreliable. These measures have reshaped Russia's economic landscape, with state ownership now playing a much larger role in key industries.
