In the first half of 2025, the occupation administration of Crimea received over $28 million in profit as a result of the seizure and so-called "nationalization" of Ukrainian property on the temporarily occupied peninsula. This was reported by UNN with reference to the analytical report of the Institute for the Study of War (ISW) dated July 17.
Details
As ISW writes, the head of the Crimean State Occupation Council, Vladimir Konstantinov, stated on July 15 that "the occupation administration sold 25 real estate objects nationalized from 'enemies of Crimea and Russia', earning 2.2 billion rubles (about $28 million) for the Crimean budget in the first six months of 2025."
Russia uses the seizure and nationalization of property as a punitive measure in occupied Ukraine, depriving Ukrainians of their real estate. ISW has reported in detail on how Russia also uses the seizure and nationalization of property to profit from the occupation of Ukraine, effectively using the sale of this property as a source of income for the Russian budget.
It is noted that the occupation administration of Crimea seems to be intensifying efforts to sell "nationalized property" and the profit from "nationalization" amounted to 4.8 billion rubles ($61 million) between 2022 and 2024, while the value for the first six months of 2025 alone (2.2 billion rubles/$28 million) is almost half of what was received in the first two years of the full-scale invasion.
Recall
Russia added over 250,000 real estate objects in the temporarily occupied territories of Ukraine to its register. The Institute for the Study of War reports that this will allow the invaders to nationalize property and sell it to Russians.