Yes — Russia has a long history of confiscating both gold and other property, and it is still doing so in various forms today. Recent reporting shows Russian authorities have seized billions of dollars in assets, including a confiscated majority stake in a gold miner, and have also pursued nationalizations of domestic and foreign-owned property.[1][9]
## Gold
Russia has confiscated gold-related assets, including a controlling stake in the gold producer Uzhuralzoloto, which was transferred to the state and later put up for auction. That is a clear example of state seizure of a gold asset, even if it is not the same as taking physical gold bars from individuals.[3][4][1]
## Property
Russia has also confiscated broader property and business assets, especially during the war in Ukraine. Reporting describes seizures of foreign firms’ assets and domestic companies, with total confiscations estimated at around $50 billion over the past three years. A separate report also notes that Russia’s Foreign Ministry has publicly claimed foreign confiscation would be illegal, which shows the issue is politically contested.[2][6][9]
## Historical pattern
This kind of state seizure is not new in Russian history. Modern reporting points to a broader pattern of nationalization and state appropriation of private assets, especially in periods of political conflict or state consolidation. The current wave appears to be one of the largest redistributions of property since the 1990s privatization era.[9][2]
## Practical distinction
If you mean personal property or private gold holdings, the answer is more nuanced because confiscation can happen through courts, sanctions, criminal investigations, or emergency decrees, depending on the case. If you mean state-level seizures of companies, land, or financial assets, the answer is clearly yes.[7][1][2][9]
Sources
[1] Russia fails for third time to sell off confiscated stake in gold miner https://www.mining.com/web/russia-fails-for-third-time-to-sell-off-confiscated-stake-in-gold-miner/
[2] Exclusive: Russia's central bank calls out violations in state asset grab https://www.reuters.com/business/finance/russias-central-bank-calls-out-violations-state-asset-grab-2025-10-08/
[3] Russia to auction seized stake in gold producer UGC from May 8 https://www.globalbankingandfinance.com/russia-auction-seized-stake-gold-producer-ugc-8/
[4] Russia seeks seizure of owner's stake in gold producer Uzhuralzoloto https://www.reuters.com/markets/emerging/russia-seeks-state-seizure-gold-producer-uzhuralzoloto-russian-news-agencies-2025-07-03/
[5] What is the status of Russia's frozen sovereign assets? | Brookings https://www.brookings.edu/articles/what-is-the-status-of-russias-frozen-sovereign-assets/
[6] Russia warns West of consequences of asset confiscation https://english.news.cn/europe/20240128/deffcf97daaf44008dc875d9098fc0dc/c.html
[7] The Kremlin has decided to rob businesses from "unfriendly" countries https://odessa-journal.com/foreign-intelligence-service-the-kremlin-has-decided-to-rob-businesses-from-unfriendly-countries
[8] The Unfreezable Asset: Gold, Sanctions, and Russia https://warontherocks.com/the-unfreezable-asset-gold-sanctions-and-russia/
[9] Russia seizes $50 billion in assets as economy shifts during war in Ukraine, research shows https://www.reuters.com/world/europe/fortress-russia-has-confiscated-50-billion-assets-over-three-years-kommersant-2025-07-09/
[10] Seizing Russian assets https://academic.oup.com/cmlj/article/17/3/276/6617212?searchresult=1
