Russian court blocks assets of agricultural billionaire in the country, local agencies say

Prosecutors estimate that the transfer of assets to the Russian government alone totals US$29 billion, the largest movement of its kind since the privatizations of the 1990s. REUTERS/Marina Lystseva A Russian court ordered the freezing of the assets of Vadim Moshkovich, billionaire founder of agricultural giant Vadim Moshkovich, according to local media. The decision includes a 49% stake in the company, valued at 49 billion rubles (R$3 billion). Moshkovich was arrested in March 2025 and is accused of embezzling 30 billion rubles (about R$2 billion). He pleaded not guilty. Prosecutors asked the court, on May 1, to seize the assets. The court reported that it made “preparations” this Monday for a hearing scheduled for May 5. According to a source interviewed by Russian agencies, a precautionary block was imposed on Moshkovich’s movable and immovable assets, as well as 100% of the shares of several companies, including Rusagro. The decision covers all company shares owned by the businessman. Trending videos on g1 Since the start of the military campaign in Ukraine in 2022, the Russian state has confiscated more than US$50 billion in private property, including assets of foreign companies that left the country. The estimate is from a Moscow law firm. Prosecutors estimate that the transfer of assets alone totals US$29 billion — the largest movement of its kind since the privatizations of the 1990s. The arrest of Moshkovich, who was once a deputy and built one of the largest agricultural groups in Russia after starting out selling computers in the post-Soviet period, caused a strong reaction in the business community. This is the most relevant case involving a Russian businessman since the arrest, in 2018, of Ziyavudin Magomedov, founder of the Summa group, and the house arrest, in 2014, of Vladimir Yevtushenkov, shareholder of AFK Sistema. Rusagro, the only major Russian agricultural company listed on the stock exchange, previously stated that it continues to operate normally despite the arrest of its founder. The company is a large producer of sugar, pork and vegetable oils, and exports to 23 countries, including China, Turkey and Iran. The company did not comment on the blockage of goods. Rusagro shares fell 1.4% this Monday and have accumulated a loss of around 7% since they began trading on the Moscow Stock Exchange in July last year.

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