Main points
- The SBU has seized the assets of Russian businessman Vadim Zarubin, including an abrasives plant in the Kirovohrad region, on suspicion of financing the Russian army.
- The seized property is estimated at 50 million hryvnias.
SBU arrested assets of Russian businessman / SBU
Russian oligarch Zarubin owns real estate in Ukraine and an abrasives factory in Kirovohrad region. His property was seized for regular donations to the Russian army.
What assets does Zarubin have in Ukraine?
Vadym Zarubin is likely involved in financing Russia's war against Ukraine, the SBU reported.
Because of this, his assets were seized. These include:
- 13 commercial real estate properties;
- rights to 8 mining companies in Ukraine.
Their total amount is 50 million hryvnias. Among the Russian's largest assets is an abrasives plant in the Kirovohrad region. The arrest will not allow him to transfer this property to front persons in order to avoid further nationalization.
What is the Russian oligarch accused of?
According to the investigation, Zarubin regularly transferred part of the profits of controlled enterprises to the needs of the Russian army. He directed the largest “sponsorship” donations to the purchase of SUVs, unmanned systems, and fuel for the Russian army.
He likely used a network of controlled companies to withdraw funds. Based on the evidence collected, SBU investigators reported Zarubin in absentia on suspicion of financing an aggressor country.
The sanction of the article provides for a penalty of 10 years in prison with confiscation of property.
What is known about the assets of Russian oligarchs and confiscation?
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The Amadea yacht, owned by Russian oligarch Suleiman Kerimov, was recently sold in the US. It was bought by Beyond Holdings Group LTD, a company believed to be linked to the family of billionaire Hussein Sajwani. Sajwani, the founder of DAMAC Group, has ties to Donald Trump.
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Meanwhile, the UK has frozen £5.3 billion in assets of Russian billionaire Abramovich, who is trying to delay the transfer of funds from the sale of Chelsea to Ukraine through the courts in Jersey.
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Overall, the number of Russian billionaires rose to record levels during the war, but they lost political influence and became silent supporters of Putin's regime. Military spending stimulated the Russian economy, allowing Russian oligarchs to profit from the war.