ISW reveals what Russians earned from selling Ukrainian property in Crimea
ISW reveals how much Russia earned in Crimea in 2025 (Illustrative photo:Getty Images)
The Russian authorities in Crimea earned over $28 million in the first half of 2025 from the nationalization of Ukrainian property, according to a report by the Institute for the Study of War (ISW).
According to ISW, the head of the so-called State Council of Crimea, Vladimir Konstantinov, stated on July 15 that the occupation administration had sold 25 real estate properties that had been nationalized from enemies of Crimea and Russia. These transactions brought in around 2.2 billion rubles, which is approximately $28 million, for the Russian budget.
Analysts emphasize that Russia is using property seizures and nationalization as a means of repression in the occupied Ukrainian territories, deliberately depriving people of their property. According to ISW, the sale of such property generates profit and effectively serves as a source of funding for the occupation administration.
The report also notes that the pace of so-called nationalization is accelerating. While 4.8 billion rubles (approximately $61 million) were added to Crimea’s budget between 2022 and 2024, in just the first half of 2025, that figure has already reached nearly half of the total amount collected over the previous three years.
Earlier, RBC-Ukraine reported that Russia removed more than 100 cultural artifacts from occupied Crimea, with Ukraine’s Defense Intelligence releasing evidence of archaeological looting.
