Olena Zelenska, first lady of Ukraine, at the the Forbes 30/50 Summit in Abu Dhabi. Victor Besa / The National
Olena Zelenska, first lady of Ukraine, at the the Forbes 30/50 Summit in Abu Dhabi. Victor Besa / The National
Olena Zelenska, first lady of Ukraine, at the the Forbes 30/50 Summit in Abu Dhabi. Victor Besa / The National
Olena Zelenska, first lady of Ukraine, at the the Forbes 30/50 Summit in Abu Dhabi. Victor Besa / The National

Russia seizes Crimean home of Ukrainian first lady Olena Zelenska


Soraya Ebrahimi
  • English
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A flat belonging to Ukraine's first lady has been seized by Russian-installed authorities in Crimea that said they were nationalising another wave of Ukrainian assets on the annexed peninsula.

The Crimean peninsula was annexed by Russia from Ukraine in 2014, and in February last year, it launched its large-scale offensive in the country.

“Crimea is continuing to nationalise assets of Russia's enemies,” the Kremlin-appointed governor of Crimea, Sergei Aksyonov, said on social media.

“A number of facilities are being transferred to the republic's ownership.”

Mr Aksyonov said this included a flat in the historic resort of Yalta that belongs to Olena Zelenska, the wife of Ukrainian leader Volodymyr Zelenskyy.

He also said a building in the city of Simferopol that belonged to the Mejlis – a representative body of the Crimean Tatar Muslim minority – was included in the drive.

After its annexation of Crimea, Russia banned the Mejlis, declaring it an extremist organisation, and has jailed members of the community since.

Mr Aksyonov gave no further details on what other assets were seized.

Ukrainian first lady Olena Zelenska visits Washington – in pictures

Russian authorities announced a previous wave of nationalisations in February.

The international community has not recognised Crimea as part of Russia.

As it prepares for a major counteroffensive against Moscow's forces, Kyiv has repeatedly said it plans to take back Crimea.

Ukraine's president and first lady appear in rare TV interview together – video

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Benefits of first-time home buyers' scheme
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Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Updated: May 25, 2023, 10:48 PM