Russia has begun nationalizing one of the largest agricultural holdings owned by the disgraced businessman Moshkevich

The Russian Prosecutor General’s Office has filed a lawsuit with the Khamovniki District Court of Moscow seeking to transfer a controlling stake in one of the country’s largest agricultural holdings, Rusagro, to state ownership. The agency is demanding that 469 million shares (approximately 49% of the capital) belonging to the company’s founder, Vadim Moshkovich, his family, and partners be transferred to state ownership.

This was reported by the publication Kommersant.

In addition to the securities, the prosecutor’s office plans to confiscate 14 billion rubles in cash from the businessman, including significant amounts in foreign currency found during searches. Moshkovich, whose fortune is estimated at $2.9 billion, is accused of using his administrative authority while serving as a senator to expand the company’s land holdings and funnel profits to offshore accounts. Currently, the owner of Rusagro is being held in pretrial detention on charges of fraud and bribery.

According to sources, the nationalization of the asset may be in the interests of the Patrushev clan, which seeks to establish control over key enterprises in the food sector. The Rusagro holding is a strategically important entity, as it holds leading positions in pork and sugar production and owns over 700,000 hectares of agricultural land. Experts link this process to the general trend of redistributing big business in Russia in favor of security agencies close to the Kremlin.