Russia Confiscates $7.6Bln in Assets in Largest Nationalization Yet (opens original article in a new tab)

Russia has confiscated $7.59 billion in assets from jailed billionaire Vadim Moshkovich, marking one of the largest nationalizations in the country's recent campaign to bring private assets under state control.

• Russian authorities confiscated $7.59 billion in assets linked to jailed billionaire Vadim Moshkovich and transferred them to state ownership
• The seizure is part of Russia's campaign to nationalize private assets since the invasion of Ukraine, with over $89.7 billion in businesses transferred to government control
• Moshkovich faces charges including large-scale fraud, intentional bankruptcy, and money laundering, with potential sentences up to 15 years