Published by Global Banking and Finance Review
Posted on October 2, 2025
1 min readLast updated: January 21, 2026
A Russian court has ordered the seizure of billionaire Denis Shtengelov's assets, including KDV Group, after labeling him and his father as extremists.
MOSCOW (Reuters) -A Russian court on Wednesday ordered the seizure of confectionery billionaire Denis Shtengelov's KDV Group after it designated Denis and his father Nikolai as extremists, the Interfax news agency said.
The verdict is the latest high-profile case of the Russian state seizing domestic assets through the courts, having previously nationalised a gold producer, a grains trader and a Moscow airport this year.
KDV Group is a major producer of snacks and confectionery. It owns over 10 factories in Russia producing around 700 different products.
Denis Shtengelov also owns the Yarche! supermarket chain, which has over 1,300 stores. He is worth $1.4 billion, according to Forbes.
He resides in Australia, according to Russian news outlet Izvestia.
(Reporting by Reuters, writing by Robert Harvey; Editing by Mark Trevelyan/Guy Faulconbridge)
A billionaire is an individual whose net worth is equal to or greater than one billion units of currency, typically measured in dollars.
KDV Group is a major Russian company known for producing snacks and confectionery, operating multiple factories across the country.
Asset seizures can lead to significant financial losses for individuals or companies, disrupt business operations, and impact market confidence.
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