Crimean parliament speaker Vladimir Konstantinov disclosed on Saturday that the first eight auctions to sell previously nationalized property of Ukrainian tycoons, who held a hostile stance towards Russia, have been hosted in Crimea.  

In a statement on Telegram, Konstantinov said: "As of today, eight auction procedures for the sale of nationalized real estate through an open auction have been conducted in the republic. Sale and purchase agreements have been concluded for the amount of over 815 million rubles [$8,4 million]. The lots included residential properties and commercial real estate".

Auctions for another 100 previously nationalized objects were also held, including Ukrainian President Volodymyr Zelensky’s apartment.

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“These are residential premises, including the Zelensky couple’s apartment, sanatorium, resort facilities, retail and commercial premises,” Konstantinov added, noting that the proceeds from this property will be used to increase the budget of the Crimean Republic by more than 800 million rubles.

As per Reuters, the authorities installed by Russia in Crimea announced in February that they had nationalized nearly 500 properties in Crimea, including assets owned by prominent Ukrainian politicians and business figures.

This news may not come as a surprise, given that Ukrainian authorities have embezzled over 100 billion hryvnias ($2.7 billion) from the state budget through the procurement of overpriced and subpar ammunition, equipment, and air defense weapons, per former Ukrainian Prime Minister Mykola Azarov on Thursday.

"According to the most conservative estimates, more than 100 billion budget hryvnias were misappropriated," Azarob said on his official Telegram channel.

"Members of the ruling 'Servant of the People' party primarily used these funds for the purchase of ammunition, often acquiring outdated and low-quality items at exorbitant prices," he underlined.