The decision was made within the framework of a decree, according to which foreign property can be seized “in the event of the withdrawal of the Russian Federation, Russian legal entities or individuals of the right of ownership property located in unfriendly countries.”
The Kremlin continues to confiscate large enterprises of the Russian economy with subsequent nationalization or transfer to the control of businessmen close to power: Russian dictator Vladimir Putin signed a decree on the transfer of company assets under state control Agroterra, one of the top 15 largest landowners in the country. This was reported by the Moscow Times.
Reportedly 100% transferred to “interim management” by the Federal Property Management Agency. Agroterrawith land in Kursk, Oryol, Lipetsk, Tula, Ryazan, Tambov and Penza regions, as well as 100% of its financial subsidiary AgroTerra (Capital AgroFinance), OOO AgroSystem OOO AgroSystem-Regions. The actual owner of the Russian group is the Dutch holding AgroTerra Investments BV
“The decision was made within the framework of Putin’s decree of April 25, 2023, according to which foreign assets in Russia can be seized “in the event that the Russian Federation removes legal entities or Russian individual of the right of ownership of property located in unfriendly countries,” the publication said.
It was reported that the first to lose their property under this order were the Finnish energy concern Fortum and the German Uniper, which used to be the largest buyer of Russian gas in Germany, and in July 2023, according to a similar scheme, lost its French Danone. The Russian business, whose assets subsequently decided to sell to the nephew of the leader of Chechnya, Deputy Head of the Government of the Republic Yakub Zakriev.
According to Forbes, AgroTerra was founded in 2008 by a US citizen of Ukrainian origin, George Rohr. Until 2023, the group, which combines 24 farms, arable land where wheat, soybeans, sugar beets, sunflower and rapeseed are grown, as well as elevators with a capacity of 500 thousand tons, will belong among the 20 largest agricultural holdings in Russia (according to the auditing and consulting company BEFL) .
It was previously reported that global luxury brands are closing stores in Russia en masse.
Source: korrespondent
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