Yakub Zakriev, nephew of Chechen leader Ramzan Kadyrov, became a billionaire overnight after Russian courts transferred control of French food giant Danone's Russian assets to a company he established just three months ago.
The transfer, valued at approximately $2.1 billion according to independent asset valuations, represents the most brazen example of systematic asset seizures targeting Western firms that have attempted to exit Russia following the invasion of Ukraine.
According to corporate filings reviewed by investigative journalists, Zakriev registered "Vostok Dairy Holdings" in January 2026 with declared capital of just $10,000. On April 10, a Moscow commercial court transferred ownership of Danone's entire Russian operations—including 14 production facilities, distribution networks, and valuable brand rights—to the newly formed entity.
The ruling cited Danone's alleged failure to maintain "strategic production capacity" after the company announced plans to sell its Russian business in March 2025. Russian law allows courts to seize assets of foreign companies deemed to be abandoning operations that serve "national food security."
To understand today's headlines, we must look at yesterday's decisions. When Western companies began announcing Russia exits in 2022, many assumed they could negotiate orderly sales or transitions. Instead, the Kremlin has created a system that effectively confiscates assets and redistributes them to politically connected figures.
Zakriev, 34, had no prior experience in the food industry. His background includes security consulting and what corporate intelligence firms describe as "informal business mediation"—a euphemism often applied to individuals who facilitate deals through political connections rather than market mechanisms.
The Danone seizure follows a pattern. In 2024, Swedish furniture retailer IKEA's Russian assets were transferred to a consortium linked to Kremlin insiders. German automaker Volkswagen's Russian factories were similarly "acquired" by entities with opaque ownership structures.
France's Foreign Ministry summoned Russia's ambassador to protest what officials termed "state-sanctioned theft." French Economy Minister Bruno Le Maire called the seizure "a clear warning to any company still operating in Russia" and urged remaining French firms to "accelerate their exit strategies."
Business analysts estimate that Western companies have lost approximately $107 billion in Russian assets since 2022, though many continue operating rather than face complete confiscation. Approximately 1,200 Western firms remain active in Russia, down from roughly 2,400 before the Ukraine invasion.
The Kadyrov family's expanding business empire now includes energy distribution, construction, and food production assets, all acquired through similar mechanisms. Ramzan Kadyrov, who has governed Chechnya since 2007, maintains close personal ties to Vladimir Putin and has supplied troops for the Ukraine campaign.
