Russians in Crimea “privatized” over 120 Ukrainian state-owned properties
From 2015 to 2025, the Russian authorities illegally “privatized” over 120 Ukrainian state-owned properties in Crimea for more than UAH 14.4 billion.
According to the Representation of the President of Ukraine in the Autonomous Republic of Crimea, the list of “privatization” included enterprises in the machine-building industry, the wine industry, sanatorium-resort facilities, as well as oil and port infrastructure.
As noted, this policy was implemented through annual “privatization plans” approved by Russian-controlled bodies. In addition, Russian legislation was extended to the territory of occupied Crimea, allowing small and medium-sized businesses to buy out leased properties without holding open auctions.
In the period 2015–2019, “privatization” gradually expanded – from the sale of individual small objects to the sale of large enterprises. In particular, at this time, the alienation of unfinished construction and commercial real estate in Simferopol, Yevpatoria and Yalta took place.
Among the most famous examples is the sale in 2017 of the Novy Svit champagne wine factory in Sudak. The enterprise, founded in 1878, has the status of a cultural heritage site and is known for its historic wine cellars and vineyards. Also during this period, sanatoriums, tourist complexes and other facilities fell under “privatization”. The total income of the Russian authorities from such sales at that time amounted to about 3.76 billion UAH.
In 2020–2025, the Russian administration began to use new mechanisms for the transfer of property, in particular, the contribution of state assets to the authorized capitals of controlled enterprises. According to the Ukrainian side, this allowed the de facto transfer of state property of Ukraine to private property of structures controlled by Russia, without even following formal sales procedures.
The largest deal during this period was the sale of the Massandra winemaking enterprise in 2020 for over UAH 3.1 billion. This is one of the oldest winemaking enterprises in Ukraine, which has significant areas of vineyards and a unique collection of historical wines.
It is separately noted that Sevastopol functions as a separate administrative unit in the Russian system of administration of the Russian Federation. The largest deal there was the sale of the Inkerman Vintage Wine Factory in 2023 – one of the largest winemaking enterprises in the region, founded in 1961.
“Illegal “privatization” in Crimea has been going on for over 10 years and is of a systematic, targeted nature. The funds from it are not used to improve the lives of local people, but are partly used to cover the “deficit” in the budget of Russian structures. Thus, the occupation is turning into a mechanism for profiting at the expense of the depletion of Ukrainian territories,” the Ukrainian President’s Office in the Autonomous Republic of Crimea emphasized.