MOSCOW, Russia – Russian authorities have arrested Vadim Moshkovich, the billionaire founder of Rusagro, on large-scale fraud and embezzlement charges, marking one of the highest-profile business detentions since the invasion of Ukraine.
A Rare Crackdown on Business Leaders
Moshkovich, whose Rusagro conglomerate is one of Russia’s leading sugar, meat, and oil producers, was detained on Wednesday, according to state media reports. His lawyer confirmed the charges but provided no additional details.
This arrest is part of a wider pattern in Russia, where business leaders have been pressured to align with the Kremlin, especially since the Ukraine war and resulting Western sanctions.
Ties to Putin and Sanctions
The European Union sanctioned Moshkovich in 2022 after he attended a meeting with President Vladimir Putin on the day Russia launched its invasion. The EU cited his presence as evidence of his close ties to the Kremlin and accused him of supporting actions that threaten Ukraine’s sovereignty.
Raids on Rusagro Offices
Prior to his arrest, authorities conducted raids on Rusagro offices, though no official statement has been made regarding the specific allegations.
Forbes estimates Moshkovich’s net worth at $2.7 billion, making him one of Russia’s wealthiest businessmen. His arrest signals a potential shift in the Kremlin’s approach to high-profile figures in the post-invasion era.
