Russia Seizes Over 650,000 Acres Of Farmland And Other Assets From Company With Ties To 'Unfriendly' Country

In a significant escalation of its retaliatory measures against “unfriendly” states amid heightened geopolitical tensions, Russia has seized assets of the agricultural holdings company AgroTerra Group.

The move, announced on April 8, 2024, has sent shockwaves through the agricultural sector and raised concerns over food security and international trade relations.

President Vladimir Putin’s decree places Dutch-registered firms AgroTerra Investments B.V. and AgroTerra Holdings B.V. under the “temporary management” of Rosimushchestvo, Russia’s federal property management agency.

This action follows a series of similar asset seizures targeting Western companies, including multinational brewer Carlsberg and dairy giant Danone, which have sought to divest their Russian operations in response to the ongoing conflict in Ukraine.

AgroTerra, founded in 2008, is a major player in the agricultural industry, specializing in the production and supply of commodities such as soybeans, wheat and sugar beet.

The company is recognized as one of the top 20 largest owners of agricultural land in Russia, with a cultivated area of approximately 265,000 hectares (654,829 acres).