Russian Finance Minister Anton Siluanov stated Tuesday that Russian authorities plan to sell state-seized properties to improve revenues.We strategy to magnify the privatization of residential or commercial property coming into the treasury, Siluanov told a board meeting of Russias Federal Agency for State Property Management (Rosimushchestvo), according to the state-run news company TASS.Rosimushchestvo supervises the short-term administration of taken assets.Siluanov stated the government anticipates to earn a minimum of 100 billion rubles ($1.22 billion) from property sales in 2025, including those confiscated through court rulings.He did not specify how authorities prepare to use the proceeds, however Russia is projecting a budget deficit of 1.17 trillion rubles (0.5% of GDP) in 2025 in the middle of a rise in defense spending.New development strategies for state-owned business will have to be approved to increase their participation in attaining nationwide objectives, Siluanov was estimated as saying by TASS.In 2024, The Moscow Times Russian-language edition approximated that the state took a record 544.7 billion rubles ($6.71 billion) in properties from at least 67 companies throughout the food, realty and retail sectors.Since releasing the major invasion of Ukraine in 2022, Russia has actually carried out a major redistribution of wealth, including the nationalization of 1 trillion rubles ($10.8 billion) worth of tactical assets.Officials, including President Vladimir Putin, have actually rejected that Russia is undergoing de-privatization or nationalization of its economy.