Russia Seizes $7.6B in Private Assets, Expanding State Control

Russia confiscated 550 billion rubles ($7.59 billion) of assets linked to jailed oligarch Vadim Moshkovich, transferring them to state revenue in what authorities describe as the largest asset nationalization to date. The move underlines a Kremlin drive to bring private companies under state control, part of a broader wave that has redirected about 6.5 trillion rubles since Russia’s Ukraine invasion; Moshkovich faces charges including large-scale fraud and related offenses.