realestate

Russia Seizes Crimea Real Estate Worth $60M in 2024

In occupied Crimea, over 1,200 properties valued at RUB 4.5 billion have been nationalized since last year.

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n occupied Crimea, over 1,200 properties worth RUB 4.5 billion have been seized by the Russian authorities this year alone. According to the National Resistance Center, these assets belonged to Ukrainian entrepreneurs or individuals who opposed the occupation.

    The majority of the seized properties are resorts and commercial buildings, which have either become state property or been sold to new owners with ties to Russia. This move is seen as a continuation of the Kremlin's efforts to consolidate control over Crimea.

    In February 2023, the Crimean pseudo-parliament approved a law allowing for the "nationalization" of properties belonging to foreign citizens and governments deemed "unfriendly" by Russia. Notably, this has already been applied in cases involving prominent figures such as Ukraine's former prime minister Arseniy Yatseniuk and singer Jamala and her family.

Russian authorities seize real estate worth $60 million in occupied Crimea.