Assets of Russian businessman Zarubin, who finances war, seized – SBU

The assets of Russian businessman Vadim Zarubin, who is involved in financing the Russian Federation’s war against Ukraine, have been seized, the Security Service of Ukraine reports.

"The assets include 13 commercial real estate properties and corporate stakes in eight mining companies in Ukraine, valued at more than UAH 50 million in total. Among the Russian national’s largest holdings is an abrasives plant in Kirovohrad region," the agency said in a Telegram post Thursday.

The Security Service of Ukraine (SBU) said the seizure would prevent him from transferring the assets to shell owners in order to avoid future nationalization in favor of the Ukrainian state.

Investigators established that Zarubin regularly funneled a portion of profits from companies under his control to Russian armed groups.

"According to case materials, his largest ‘sponsorship’ expenditures went toward purchasing SUVs, drone systems and fuel and lubricants for the aggressor country’s military," the statement said.

To move funds to Russia after the start of the full-scale invasion, the suspect used a network of companies under his control.

Based on collected evidence, SBU investigators have served Zarubin with an in-absentia suspicion notice under Part 4 of Article 110-2 of the Criminal Code of Ukraine — financing actions aimed at the violent overthrow of the constitutional order, seizure of state power or alteration of Ukraine’s territorial boundaries. The charge carries a sentence of up to 10 years in prison with asset confiscation.

As the suspect is currently outside Ukraine, comprehensive measures are underway to bring him to justice for crimes against the Ukrainian state.