Russia has confiscated nearly 3.9 trillion rubles, or around $50 billion, worth of assets since its full-scale invasion of Ukraine in 2022, according to a report by Moscow-based law firm Nektorov, Saveliev and Partners.

Russia has nationalized approximately $50 billion worth of private assets since its 2022 invasion of Ukraine, a move designed to both fund its war effort and reshape the country’s business elite. According to a new report by a Russian law firm,