Espreso. Global

Kremlin distributes seized Ukrainian companies to loyal Russian businessmen - British intelligence

5 April, 2024 Friday
15:12

Russia hands out companies seized in the temporarily occupied territories to pro-Kremlin businessmen who support the war in Ukraine

client/title.list_title

The UK Ministry of Defence reports.

It is noted that since the beginning of the full-scale invasion, Russia has brought about 180 companies under state control, presumably worth about $11.5 billion.

"Foreign-owned companies have almost certainly been prioritized, including companies owned by Russians who live abroad. This is highly likely due to the state's desire to reduce foreign (particularly Western) ties in the Russian economy," the report says.

At the same time, Russia is redistributing assets to Kremlin businessmen who support the war in Ukraine. This deprivatization is likely related to Russian President Vladimir Putin's call to create a new nationalist elite forged by the war in Ukraine.

"Increased defense spending has almost certainly increased the financial pressure on the Russian state, alongside economic sanctions and flows of capital out of Russia since the start of the invasion. The Russian state is highly likely establishing greater control over companies in 'strategic' industries such as defense," the intelligence service said.

  • Russian occupation forces in the temporarily occupied territories of Kherson region are creating "school museums of a special military operation" to spread their propaganda.

Tags:
Read also:
  • News
2024, Friday
12 July
14:00
OPINION
Ukraine is NATO's Achilles' heel
13:47
Exclusive
Russia is running out of mechanized resources - Information Resistance group
13:20
Exclusive
"Star attack" method: military expert explains Russia's tactics used in massive attack on Okhmatdyt
13:01
Updated
Zelenskyy holds meetings during NATO summit in Washington: details
12:45
Review
Interim NATO summit results and tech innovations in 3rd Brigade combating Russian UAVs. Serhiy Zgurets' column
12:15
Australia pledges largest military aid package of $250 million to Ukraine since war's start
11:58
Australian military officer and husband arrested on suspicion of spying for Russia
11:35
Hungary's Orban meets with Trump, discusses war in Ukraine as "peace mission"
11:16
7-year-old boy dies in Kyiv after being in Okhmatdyt hospital during Russian attack
10:57
Stories of prisoners under Russian occupation: documentary film Bring Me Home presented in Kyiv
10:43
How European media spread Russia fakes about Okhmatdyt Kyiv children’s hospital attack
10:13
Russia loses 1,030 soldiers, 48 artillery systems, 9 tanks in one day of war in Ukraine
09:53
Ukraine Compact signed at NATO summit: details
09:35
UN General Assembly adopts resolution on security of Ukraine's nuclear facilities
2024, Thursday
11 July
22:50
Review
Victorious news of 869th day of war: Ukraine's special forces destroy 11 Russian ammunition depots, Ukrainian army to get 18 Bohdana howitzers
22:31
Interview
Europe struggles even more than Ukraine in dealing with Russian disinfo. Interview with Anna Melenchuk
22:09
Exclusive
Russia digs up coffins of fallen Ukrainian soldiers from graves - Kherson City Council member
21:41
Russia plotted to assassinate Rheinmetall CEO supplying Ukraine with weapons: US, Germany foil plan
21:27
62 firefights occur at front, Russian army most active in Pokrovsk sector - Ukraine's General Staff
21:09
Hungary opposes NATO becoming an "anti-China" bloc - minister Szijjártó
20:58
Russian pilot hands over data of 30 bomber division commanders to Ukraine after Okhmatdyt strike - media
20:39
Ukraine, Romania sign security agreement
20:20
Exclusive
F-16s from Denmark, Netherlands may arrive in Ukraine by summer end - Defense Express
20:04
EU confirms Orban's talks with Putin violate bloc's treaties - media
19:58
Exclusive
Swedish Gripen aircraft in Ukraine could outperform F-16 - aviation expert
19:40
Russia to enshrine compulsory propaganda among children in Kherson region’s occupied part
19:18
Norway to allocate $92.7 million to strengthen air defence for Ukraine
19:10
Exclusive
Russia plans attacks on hospitals in Luhansk, Belgorod regions, aiming to blame Ukraine - military expert Sniehyriov
18:57
Ukraine can win, but we need more weapons - Ukrainian Defence Minister Umerov
18:40
OPINION
NATO Summit: This is not invitation to Ukraine, but to Russia to become partner
18:17
Sweden joins drone coalition for Ukraine
18:00
44 people killed, 196 injured in Russia's July 8 attack on Ukraine - State Emergency Service
17:42
NATO calls China "decisive enabler" in Russia's war on Ukraine. Beijing reacts
17:26
SBU, police detain FSB agent posing as courier in Chernivtsi region
17:04
Denmark joins drone coalition
16:46
Over 23,000 men enter Moldova illegally since start of full-scale war in Ukraine
16:28
Child killers inscription projected on Russia's embassy in Washington, DC
16:10
Sweden is open to providing Ukraine with Gripen jets, Kyiv is not ready yet - minister
15:49
Lithuania provides Ukraine with new batch of military aid
15:29
Russian troops try to break through Ukrainian defense near Borova, Kharkiv region
More news