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Kremlin Blocks Departure of Gold Tycoon as State Moves to Seize Mining Empire

  • Editor Staff
  • July 8, 2025
(ANDREI RASPUTIN / Shutterstock.com)
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Russian authorities blocked billionaire Konstantin Strukov from leaving the country Saturday as the government escalated efforts to nationalize his gold mining company and investigate alleged corruption.

Strukov, 66, was preparing to fly from Chelyabinsk to Turkey aboard his $50 million Bombardier Global 6000 when aviation officials canceled the flight, citing the jet’s “arrested” status, according to Kommersant. 

Photos circulating on social media show the businessman seated onboard while law enforcement confiscated his passport.

Putin raids his own mafia: Kremlin ordered the seizure of Yuzhuralzoloto gold mining company owned by Konstantin Strukov and all his family’s assets on July 2.
He and his family arrested on the tarmac in their private jet in Chelyabinsk as they tried to flee to Turkey on July 5. pic.twitter.com/DSQebqf6QI

— Igor Sushko (@igorsushko) July 7, 2025

Strukov, a member of the pro-Kremlin United Russia party and deputy chairman of the Chelyabinsk regional assembly, is accused of using his political position to gain control of Yuzhuralzoloto (YUGK), Russia’s third-largest gold producer.

On July 2, law enforcement raided the offices of YUGK and its affiliates, as part of a criminal investigation into environmental violations, industrial safety breaches, and illegal mining operations. Within days, Russian authorities initiated formal proceedings to nationalize the company.

The company generated 25 billion rubles ($320 million) in revenue last year but posted a net loss of 7.2 billion rubles ($90 million).

Since 2022, the Kremlin has moved to reclaim private firms in strategic sectors. In 2024 alone, Russia assumed control of nearly 70 companies with combined revenues exceeding 807.6 billion rubles ($10.2 billion), according to The Moscow Times.

Strukov ranks 78th on Forbes Russia’s list of wealthiest individuals, with an estimated fortune of $1.9 billion.

Editor Staff

Editor Staff

The Editor Staff at SOFX comprises a diverse, global team of dedicated staff writers and skilled freelancers. Together, they form the backbone of our reporting and content creation.

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