Growing list of asset-seizure cases putting Putin’s tycoons on high alert

FILE PHOTO: Steam rises from chimneys of a heating power plan over the skyline of central Moscow, Russia November 23, 2020. REUTERS/Maxim Shemetov/File Photo

MOSCOW: Russian businesses are seeking guarantees from the Kremlin that they won’t face asset seizures and privatisation reviews amid a growing list of cases where assets owned by local tycoons for decades are being nationalised.

Russia is seeing more cases of assets owned by local tycoons since the 1990s being nationalised, prompting businesses to seek guarantees from the Kremlin that they won’t face privatisation reviews.