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Russia Makes $48.5 Million From Sale of Seized Ukrainian Properties in Crimea, Including Zelenskyy’s Yalta Apartment

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Russia Makes $48.5 Million From Sale of Seized Ukrainian Properties in Crimea, Including Zelenskyy’s Yalta Apartment
The view of the city from the Villa Elena Hotel in Yalta, in temporarily occupied Crimea, which has been nationalized by Russia. (Source: villaelenahotel.ru)

Russian authorities reported earning over 4.8 billion rubles ($48.5 million) from the sale of property seized from Ukrainians in temporarily occupied Crimea, according to Radio Svoboda, citing statements by Larisa Kulinich, Russia’s Minister of Property and Land Relations for the peninsula.

Among the confiscated and sold assets reportedly were Ukrainian President Volodymyr Zelenskyy's apartment in Yalta, the Villa Elena real estate complex, the Bakaleya shopping center, as well as hotels including One Thousand and One Nights and Hotel Europe in Alushta, Kulinich confirmed.

Hotel Europe in Alushta, temporarily occupied Crimea, nationalized by Russia. (Source: tripadvisor.com)
Hotel Europe in Alushta, temporarily occupied Crimea, nationalized by Russia. (Source: tripadvisor.com)

She further stated that in 2024 alone, over 1,000 properties were added to the list of so-called "nationalized" assets, including warehouses, shopping centers, office spaces, and even cinemas.

According to Denys Chystikov, Deputy Representative of the Ukrainian President in Crimea, Russian authorities have seized property from at least 560 individuals and businesses in Crimea and Sevastopol in 2024 alone, in addition to 135 buildings in Sevastopol.

The Villa Elena Hotel in Yalta, temporarily occupied Crimea, nationalized by Russia. (Source: villaelenahotel.ru)
The Villa Elena Hotel in Yalta, temporarily occupied Crimea, nationalized by Russia. (Source: villaelenahotel.ru)

In November 2024, Sergei Aksyonov, the Russian-installed head of Crimea’s occupation administration, claimed that the sale of these "nationalized" properties had generated 2.7 billion rubles ($27 million) in revenue for the Crimean budget.

The forced seizure and sale of Ukrainian-owned assets in Crimea has been condemned by Ukraine and the international community as a violation of international law.

Previously, it was reported that ‘Putin’s Wallets' may destroy a medieval fortress in Crimea for profit.

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