Russia begins nationalization of one of its largest agricultural holdings

Russia’s Prosecutor General’s Office has filed a lawsuit seeking to transfer a controlling stake in Rusagro — one of the country’s крупнейших агрохолдингов — into state ownership. The company ranks second in pork production, third in sugar output, and controls more than 700,000 hectares of farmland.

As reported by The Moscow Times, the claim concerns the seizure of approximately 469 million shares (around 49% of the company) from its founder and key shareholder, Vadim Moshkovich. The case has been submitted to a Moscow court.

Moshkovich, 58, who is estimated to have a net worth of $2.9 billion and is among Russia’s wealthiest individuals, has been in pre-trial detention since last year. He faces charges of fraud and bribery.

Prosecutors are seeking to confiscate shares held not only by Moshkovich but also those registered in the names of his wife, business partners, and affiliated entities. In addition, authorities aim to seize approximately 14 billion rubles in cash assets, including funds discovered during searches — 29.3 million rubles, $1.8 million, and €1.6 million.

The lawsuit alleges that during his tenure as a senator from the Belgorod region between 2006 and 2014, Moshkovich used political and administrative influence to benefit his business interests. In particular, he is accused of securing the transfer of large agricultural land plots, which reportedly expanded Rusagro’s land bank tenfold.

Authorities also claim that Moshkovich transferred company profits abroad through offshore structures that were not disclosed in his tax filings. Sources cited in media reports suggest that influential political groups may be interested in taking control of major assets in Russia’s food and agricultural sector, with Rusagro long considered a key target.

Tags: Russia