Skip to content
Edit post

Media: Russian court seizes assets of Ukraine's oligarch Akhmetov

by Dinara Khalilova July 31, 2023 10:43 PM 2 min read
Rinat Akhmetov, a Ukrainian businessman and oligarch, waits for the arrival of German Foreign Minister Frank-Walter Steinmeier (not pictured) before their meeting on June 24, 2014 in Kyiv, Ukraine.
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

A court in Moscow ruled to seize the assets of the Russian subsidiary of the Metinvest company controlled by Ukraine's richest man Rinat Akhmetov, Russian newspaper Kommersant reported on July 31.

According to the Investigative Committee of Russia, Akhmetov has allegedly used the money from one of Metinvest Eurasia’s accounts to finance the Ukrainian forces, including the Azov Regiment.

The Russian subsidiary of Metinvest, one of Europe's largest suppliers of iron ore, owns the Gornyak boarding house in Krasnodar and the Belgorodmetallosnab company.

After Russia started its full-scale invasion of Ukraine in 2022, Metinvest Eurasia's profit decreased by 74% and the losses amounted to 1.9 billion rubles ($20 million), the Kommersant wrote.

The Russian authorities opened a criminal case against Akhmetov's businesses in Sept. 2020, accusing him of "financing terrorism," according to the media outlet. In August 2022, Russia's Supreme Court labeled the Azov Regiment as a terrorist organization, banning its activities on the territory of Russia.

In June 2022, Akhmetov filed a lawsuit at the European Court of Human Rights against Russia for gross violations of his property rights. Akhmetov asked for "billions of dollars" to compensate for the blockade, looting, destruction, and theft of his grain and metal from Ukraine to Russia.

According to the Bloomberg Billionaires Index, as of Oct. 31 last year, Akhmetov's net worth fell by 52% to $5.39 billion compared to the pre-war level.

Ukraine’s top oligarch Akhmetov loses half his assets to Russia’s invasion
It took several months of Russia’s full-scale invasion to turn some of the most valuable assets of Ukraine’s richest man Rinat Akhmetov into a pile of dust, metal, and concrete. The tycoon’s long list of painful business losses includes the Mariupol-based Azovstal steel plant, one of the largest
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
9:44 PM

IMF: Ukraine needs $42 billion in budget support for 2024.

Speaking in Washington, IMF Managing Director Kristalina Georgieva said she was "confident" this would be achieved but added that fully addressing the country’s economic problems would require ending Russia's full-scale invasion.
9:35 PM

US House Democrats back Johnson's foreign aid bills.

"We're going to do what's necessary to make sure the national security bill gets over the finish line," House Democratic leader Hakeem Jeffries said. "It's not Johnson's foreign aid package. It's America's foreign aid package in terms of meeting our national security needs."
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.