Rusagro property was seized by the court following the claim of Sinco Trade
The Commercial Court of the Saratov region seized the property of Rusagro and its shareholders Vadim Moshkovich and Maxim Basov (the latter was General Director of Rusagro in 2009-2021).
The proceedings took place following the claim of the Sinco Trade company to adopt interim measures within the bankruptcy of Volga Terminal, which produces up to 765 tons of unrefined oil per day.
The previous owner of Volga Terminal was the Solar Products holding. In 2021 it was acquired by Rusagro for 11.5 billion rubles (approximately $148.3 million) while the initial price was 3.1 billion rubles (almost $40 million).
Rusagro is one of the major players in the agro-industrial complex of Russia. At the end of 2021, the area of its crops increased by 2% to 528 thousand hectares, the yield of cultivated crops increased by 12% to almost 5 million tons. However, the harvest of grain crops dropped by 27% to 872 thousand tons, while the harvest of oilseeds and sugar beet increased by 22% to 408 thousand tons and 27% to 3.674 million tons, respectively.
