Russian court freezes assets of Rusagro billionaire founder Moshkovich, local media report
Asset Freeze and Legal Proceedings Against Vadim Moshkovich
Details of the Asset Freeze
MOSCOW, May 4 (Reuters) - A Russian court has frozen the assets of Vadim Moshkovich, the billionaire founder of leading agricultural producer Rusagro, including a 49% stake in the company, valued at 49 billion roubles ($649 million), local media reported on Monday, in preparation for what could be another high-profile asset grab by the state.
Context: State Seizures Since Ukraine Conflict
Since the start of the military campaign in Ukraine in 2022, the Russian state has seized more than $50 billion worth of private property, including the assets of foreign companies that left Russia, according to a 2025 estimate by Moscow law firm NSP. Prosecutors have estimated the property transfer alone, the biggest since privatisations in the 1990s, at $29 billion.
Legal Actions and Charges Against Moshkovich
Moshkovich, Russia's 51st-richest person according to the latest Forbes list of billionaires, was arrested in March 2025 and has been charged with embezzling 30 billion roubles ($400 million). He has pleaded not guilty.
Prosecutors' Request and Court Proceedings
Prosecutors had on May 1 asked the court to seize his assets. The court said in a statement that it had on Monday carried out "preparations" ahead of a hearing scheduled for May 5.
Scope of the Asset Seizure
"A protective seizure has been imposed on the movable and immovable property of Moshkovich, as well as on 100% of the shares of several companies including Rusagro," a source familiar with the ruling told domestic news agencies. The source added that the court's decision concerned all the shares of Rusagro owned by Moshkovich.
Impact on Russian Business and Rusagro
The prosecution of Moshkovich, a former member of parliament who started out in business by selling computers amid the chaos of post-Soviet Russia before building one of the country's most powerful agricultural holdings, has sent shockwaves through its business elite.
Comparison to Previous High-Profile Arrests
It was the highest-profile arrest of a Russian businessman since the 2018 arrest of Summa shipping and logistics group founder Ziyavudin Magomedov and the 2014 house arrest of AFK Sistema shareholder Vladimir Yevtushenkov.
Rusagro's Response and Market Impact
Rusagro, Russia's only major listed agriculture firm and a big producer of sugar, pork and oil and fat products, earlier said that it was operating normally despite its founder's arrest. Rusagro exports its oil and fat products to 23 countries including China, Turkey and Iran.
Rusagro declined to comment on the asset freeze.
Shares in the company were down 1.4% on Monday, having lost about 7% since they started trading on the Moscow Exchange last July.
Additional Information
($1 = 75.5500 roubles)
(Reporting by Reuters in Moscow; Writing by Gleb Bryanski; Editing by Guy Faulconbridge, Kirsten Donovan and Hugh Lawson)
