Russia begins seizing ex-Rosnano chief Chubais' assets

Russian bailiffs have launched another enforcement proceeding against former Rosnano head Anatoly Chubais, according to TASS, which reviewed court documents.

The documents show that Chubais’s accounts have been frozen for nearly 11.9 billion rubles ($153.4 million). The case materials were transferred to bailiffs from the Moscow Arbitration Court, prompting the initiation of enforcement action.

“The subject of enforcement is the imposition of an arrest,” the document states.

In December, the Moscow Arbitration Court froze assets of former Rosnano executives, including Chubais. Rosnano filed the lawsuit in early December in connection with the Crocus project, which aimed to establish production of magnetoresistive random-access memory (MRA) in Russia.

Earlier, Rosnano had already filed a lawsuit against the former management, leading to asset freezes of Chubais and seven other defendants totalling 5.6 billion rubles. It later emerged that Chubais had divested all his property in Russia in 2023. Chubais has been outside Russia since March 2022.

By Khagan Isayev