Russia launches $50 million auction of seized Ukraine tycoon's assets

Russian Federal Agency for State Property Management (Rosimushchestvo) has announced an auction of assets formerly belonging to Ukrainian businessman Ihor Kolomoisky (listed by the Federal Financial Monitoring Service as a terrorist/extremist). 

According to Russian media reports, the assets in question are the two companies in the Republic of Adygea: Yuzhgazenerdzhi LLC and Catering‑Yug LLC, which were transferred into federal ownership by court decision in 2024.

According to the auction listing, the sale covers 100% of the charter capital of both companies. The combined starting price is 3.97 billion RUB (approx. $49.3 million). The required bid increment is 198 million RUB (≈ $2.45 million). Applications for the auction will close on November 25.

In its lawsuit, the General Prosecutor’s Office of the Russian Federation asserted that Kolomoisky and his circle were involved in extremist activities and financing of the Ukrainian military.

In the ruling of the Koshekhabl District Court on March 5, 2024, the activities of Kolomoisky, former Smolensky Bank owner Pavel Shitov and company JKX Oil & Gas Limited were banned.

The court ordered transfer to federal ownership of 100% of the share capital of Yuzhgazenerdzhi LLC and Catering-Yug LLC, valued at over 5.1 billion RUB (≈ $63.2 million). It was reported that at that time the companies generated annual revenue of about 1.7 billion RUB (≈ $21.1 million) and gross profit of 250 million RUB (≈ $3.1 million).

In addition, authorities seized a building and six premises in central Moscow (≈ 5,500 m²) as well as 494 agricultural land plots (≈ 5,573 hectares) in the Vladimir, Kaliningrad, Moscow and Smolensk regions, with a total value exceeding 6 billion RUB (≈ $74.4 million).

By Tamilla Hasanova