Court rules to seize Strukov’s stake in Yuzhuralzoloto: IFX

Court rules to seize Strukov’s stake in Yuzhuralzoloto: IFX

On July 2, 2025, a court in Chelyabinsk issued a ruling to seize the assets of Konstantin Strukov, including his stake in Yuzhuralzoloto, Russia's largest gold producer. The ruling comes in the wake of an order from the Prosecutor-General's Office accusing Strukov of amassing his fortune through corruption and misuse of his administrative position. The billionaire politician, who has been a deputy of Chelyabinsk regional legislature since 2000 and serves as deputy chairman since 2020, is now facing asset seizures and a ban on leaving the country [1].

The ruling follows a pattern of politically motivated confiscations that have been ongoing in Russia since 2023. Many of these cases involve companies that were initially bought by their current owners from the state or regional authorities, a process known as "de-privatization." The Russian government has been citing irregularities with privatization deals, corruption, and conflict of interest issues to justify these seizures [2].

Strukov's case is notable for its connection to the broader trend of asset seizures in Russia. The Prosecutor-General's Office has been at the forefront of these confiscations, with 97% of cases initiated by this entity. The seizures are not merely about redistributing assets among oligarchs but are part of a larger effort to consolidate assets under state control [3].

The ruling to seize Strukov’s assets is part of a broader trend of nationalization in Russia, where the state is reclaiming assets that were previously privatized. This trend has been accelerated by the ongoing crisis in various industries, such as coal production and the aviation sector, which are facing significant pressures from global markets and disruptions due to conflicts [4].

The Prosecutor-General's Office has been actively pursuing cases against Russian businessmen, often citing irregularities in privatization deals from the 1990s. The seizures have been used to transfer assets to state-owned companies and banks, with the ultimate goal of consolidating these assets under state control [5].

References:
[1] https://www.memri.org/reports/russias-nationalization
[2] https://www.memri.org/reports/russias-nationalization
[3] https://www.memri.org/reports/russias-nationalization
[4] https://www.memri.org/reports/russias-nationalization
[5] https://www.memri.org/reports/russias-nationalization