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Russia Quadruples Sales of Seized Homes and Assets as War Budget Deficit Explodes
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Russian authorities have dramatically accelerated the sale of property confiscated from individuals and companies as Moscow searches for new sources of cash to cover a wartime budget deficit expected to reach roughly $89 billion this year, The Moscow Times reported on November 5.
From January through November, Russia sold around $4.66 billion worth of confiscated assets, more than four times the approximately $1.08 billion raised during all of 2025.
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Ekaterina Milekhina, deputy director of the Russian Finance Ministry’s Property Relations Regulation Department, presented the figures during a meeting of the Federation Council.
She said all proceeds from the sales had been directed toward financing “priority tasks set by the president.”
Russian authorities most commonly confiscate property from people accused of corruption, economic crimes, or laundering criminal proceeds. Assets can also be seized in cases involving alleged financing of terrorism or extremism.
At the same time, lawmakers are working to make it easier and faster for the state to sell what it confiscates.
According to The Moscow Times, a previously adopted law allows authorities to auction seized suburban real estate, with more than 1,100 properties already being prepared for sale.
Another measure eliminated shareholders’ preferential right to buy confiscated stakes in companies.
Two additional bills are now under consideration. One would change enforcement rules governing the transfer of seized property to regional authorities, while another would amend Russia’s Land Code to allow the sale of confiscated plots where construction permits have already been issued.
One example involves the case of Alexander Shestun, the former head of the Serpukhov district outside Moscow, which includes roughly 2,000 such land plots.
“We will work on legislative regulation so that, from the moment ownership of property seized as part of a criminal case passes to the Russian Federation, all seizures imposed on it are automatically lifted. And federal authorities would have the right to sell it without delays,” Federation Council economic policy committee deputy chairman Igor Treskov said.
The push comes as Russian authorities increasingly scramble for additional revenue amid the mounting financial cost of the war against Ukraine.
According to Finance Ministry estimates, Russia’s federal budget deficit is expected to reach approximately $89.4 billion in 2026, equivalent to 3.2% of GDP and the largest shortfall since the full-scale war began.
Another deficit of roughly $67.4 billion, or 2.2% of GDP, is projected for 2027.
Earlier, reports emerged that Russia’s central bank sold more gold than any other central bank in the world for a second consecutive quarter as Moscow drew down reserves to help cover a record wartime budget deficit.
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