The authorities assessed the risks of seizure of shares in favor of the state

The heads of the Ministry of Finance and the Central Bank of the Russian Federation Anton Siluanov and Elvira Nabiullina discussed at a session of the St. Petersburg International Economic Forum (SPIEF) the future fate of assets seized for state income. Their assessment of the risks associated with the situation brought “Kommersant”.

Siluanov, answering a question raised at the event related to the court decision to convert the assets of the Makfa holding into state income, assured that the property will be sold and will not remain state property.

In turn, the head of the Central Bank, addressing the Minister of Finance, drew attention to the fact that the issue is not the transfer of confiscated property to private owners, but that the measures initially affected the assets of bona fide buyers. “After this, we can’t expect people with their own money to buy shares through organized trading,” she said. In response, Siluanov emphasized that if property rights are in doubt, it is difficult to talk about the investment climate, and also expressed hope that the court will make an informed decision.

At the beginning of May 2022, the court declared the privatization of the Solikamsk magnesium plant carried out 30 years earlier illegal. Initially, his shares were seized only from the majority shareholders of the company, but three months later the prosecutor demanded that the measures be extended to other securities. In 2024, the claim was fully satisfied – it was decided to transfer shares belonging to about 2.3 thousand minority holders in favor of the Russian Federation. The Central Bank appealed this decision of the Arbitration Court of the Perm Territory.