Coverage of issues surrounding expropriation of business by the Russian state

Crimean Government Steps Up Property Confiscations

The Moscow Times:

160 hectares of land were seized by the government of Crimea – it refers to illegally acquired land located in a protected nature reserve. The redistribution of property continues by local authorities and private groups following annexation of Crimea by Russia in March.

Crimean Deputy Prime Minister Mikhail Sheremet stated that the value of the territory seized is over 3 billion rubles ($186 million). According to local Crimean authorities, the land have 90 owners who were mostly high-ranking officials in the Ukrainian government.

According to Ukrainian Justice Ministry, around 4000 business had their assets seized by authorities or private groups since March this year.

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