Crimea set to nationalize property that belongs to people and organizations ‘tied to Kyiv’

Sergey Aksyonov, head of government in the Russian-annexed Crimea, has ordered a nationalization of private property belonging to either people or organizations “tied to the Kyiv regime.” 

“I will sign the appropriate resolution tomorrow,” Aksyonov wrote on his Telegram channel, “and documents will then be submitted to the republic’s State Council. Russia’s enemies are not going to make money in Crimea, this is our principled position.”

Crimea is set to confiscate commercial property including Zaliv, a large ship-building plant, and the Bakhchysarai cement plant (“Stroyindustriya”). Crimea has already appointed provisional management to the Bakhchysarai plant and to Novatsentr, a chain of construction supply and hardware stores.

Aksyonov noted that the reorganization should not result in layoffs. The only exception to this might be the “authorized representatives of shareholders who carried out the will of their leaders in Kyiv.”

On October 18, the State Council of Crimea introduced amendments to the resolution “On property management issues in the Republic of Crimea.” The new amendments enable the recognition of property belonging to foreign countries and citizens as the region’s own. This applies to land, real estate, and other property owned as of February 24, 2022.

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