43 elite apartments belonging to Ukrainian oligarch Kolomoyskyi to be auctioned in Crimea

The Kremlin-controlled Crimean parliamentary committee on property and land relations approved the expropriation of 43 new apartments in Yalta which were previously nationalized by Russia as the property of the Ukrainian businessman Ihor Kolomoyskyi.

There are plans to auction the real estate, starting at a price of 55,000 rubles ($922 USD) per square meter.

“The expropriation will be realized through an open auction with participants and proposals being received. The adoption of the decision will make it possible for the autonomous state institution of the administrative office to meet the planned targets of non-tax contributions to the budget, and to realize the repayment of money to investors,” Novosti Kryma cites Oksana Lakhina, deputy minister of Crimean property and land relations, as saying.

In 2016, six objects belonging to Ukrainian oligarch Ihor Kolomoyskyi were sold for a total amount of 1.5 billion rubles ($30 million USD).

On September 4, the Moscow-controlled Crimean parliament made a decision to “nationalize” 111 objects located on the peninsula. According to the Crimean authorities at the time, most of these objects belonged to Ihor Kolomoyskyi. Amongst the objects on the “nationalized” list were: several dozens of marketplaces in various cities on the peninsula, children’s sanatorium and health facilities in Yevpatoria and Yalta, incomplete construction projects – in Katsiveli and the “Côte d'Azur” recreational facility in Alushta, as well as more than 30 gas stations in Simferopol, Bakhchysarai, Kerch, Yalta, Feodosia, Yevpatoria, Krasnoperekopsk and other cities. The Crimean authorities have been selling the assets belonging to Kolovoyskyi until now.

The Ukrainian public company Ukrnafta  has filed a case against Russia at the Permanent Court of Arbitration in the Hague to protect their investments in connection with the capture of the company’s gas stations in the Crimea. Ihor Kolomoyskyi has also filed a case with the Permanent Court of Arbitration to protect his investments in the Crimea.

  Crimea, Kolomoyskyi, nationalization