Russia has reportedly made over 4.8 billion rubles ($48.5 million) from the sale of confiscated Ukrainian properties in occupied Crimea. This news was reported by Radio Svoboda, citing statements by Larisa Kulinich, Russia’s Minister of Property and Land Relations for the peninsula.
Among the nationalized and auctioned assets were Ukrainian President Volodymyr Zelenskyy's apartment in Yalta, the Villa Elena real estate complex, the Bakaleya shopping center, and several hotels, including One Thousand and One Nights and Hotel Europe in Alushta.
Kulinich further stated that in 2024 alone, Russian authorities added over 1,000 more properties to the list of seized assets, including warehouses, shopping centers, office spaces, and cinemas.
According to Denys Chystikov, Deputy Representative of the Ukrainian President in Crimea, Russian authorities have seized property from at least 560 individuals and businesses in Crimea and Sevastopol in 2024 alone.
135 buildings in Sevastopol have also been taken over.
In November 2024, Sergei Aksyonov, the Russian-installed head of Crimea’s occupation administration, claimed that the sale of these assets had already generated 2.7 billion rubles ($27 million) for the Crimean budget.
The forced seizure and sale of Ukrainian-owned assets in Crimea has been widely condemned by Ukraine and the international community, with legal experts denouncing it as a clear violation of international law.
Previously, reports emerged that Russian oligarchs — often referred to as "Putin’s Wallets" — were considering demolishing a medieval fortress in Crimea to profit from its land value, further fueling concerns over the destruction and exploitation of Ukraine’s cultural and historical heritage.
