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299 Billion in State Hands: Russia Nationalizes Major Grain Exporter

NewsBox
1 February 2025, 4:14
299 Billion in State Hands: Russia Nationalizes Major Grain Exporter

Russia has nationalized one of its largest grain exporters, "Native Fields." The Rostov Region Arbitration Court has transferred 100% of the company's shares to state ownership, reports NewsBox.

The Rostov Region Arbitration Court granted the lawsuit filed by the General Prosecutor's Office of the Russian Federation, deciding to nationalize the major grain exporter "Native Fields." As a result, the state now owns all shares of the company.

The assets were confiscated due to dual citizenship held by Pyotr Khodykin, who, in addition to a Russian passport, also possesses citizenship of St. Kitts and Nevis. According to the law, foreign residents cannot own strategic companies in Russia without the appropriate government authorization, which Khodykin did not have.

"Native Fields" owns a private fleet of 11 vessels, a large railway fleet, a cargo transshipment terminal, and over 200 infrastructure facilities. It is estimated that the company's market capitalization exceeds 58 billion rubles, with an annual revenue of around 299 billion rubles.

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