Russian Prosecutors Target U.S. Investor NCH Capital as Extremist

On December 9, 2025, Russia's prosecutor general filed a lawsuit against NCH Capital, a U.S. investment fund with significant agricultural assets in Russia, labeling it as an extremist organization. The lawsuit seeks to halt the company's operations and initiate the seizure of its assets. The founders of NCH Capital, George Rohr, a U.S. citizen, and Moris Tabacinic, an Austrian citizen, are also named in the legal action. NCH Capital was established in 1993 and has been involved in various agricultural investments, including substantial holdings in Ukraine.

The Straits TimesProsecutors say major US investor in Russia's agriculture is extremist

The legal move against NCH Capital is part of a broader trend in Russia, where accusations of extremism have frequently been employed to justify the confiscation of assets from both domestic and foreign owners. According to a report by the law firm NSP, the Russian state has seized or placed under state management assets valued at approximately $50 billion since the onset of the war in Ukraine. This includes around $2.35 billion in assets from individuals categorized as extremists. Many of these individuals have had connections to Ukraine, such as former Ukrainian President Petro Poroshenko.

Prosecutors say major US investor in Russia's agriculture is extremist

Andrei Kostin, the CEO of VTB, Russia's second-largest bank, expressed interest in acquiring the assets of NCH Capital. He indicated that VTB aims to establish a national agriculture champion, suggesting a strategic move to consolidate agricultural resources within the country. This interest aligns with the Russian government's ongoing efforts to manage and control agricultural assets amid the geopolitical tensions stemming from the conflict in Ukraine.

Prosecutors say major US investor in Russia's agriculture is extremist

NCH Capital has publicly stated that its subsidiary, NCH Agribusiness Partners, which is managed by a group of U.S. institutional investors, has no intention of selling its agricultural holdings, including AgroTerra, one of Russia's top-20 agricultural landholders. The company did not immediately respond to inquiries regarding the lawsuit.

Prosecutors say major US investor in Russia's agriculture is extremist

Critics argue that the use of extremism allegations to seize assets is a tactic employed by the Russian government to exert control over foreign investments and suppress opposition. The NSP report highlights concerns that such legal actions disproportionately affect investors with ties to Ukraine, raising questions about the fairness and transparency of the Russian legal system.

Prosecutors say major US investor in Russia's agriculture is extremist

While the lawsuit against NCH Capital has been confirmed, details regarding the specific allegations of extremism remain unclear. Additionally, the broader implications of this legal action for foreign investment in Russia's agricultural sector are yet to be fully assessed, as the situation continues to evolve amidst ongoing geopolitical tensions.

The Straits Times

“Law firm NSP in a report published earlier this year said that accusations of extremism were often used to justify asset seizures by the state from both Russian and foreign owners.” — NSP Report

Prosecutors say major US investor in Russia's agriculture is extremist

“He also said separately that the bank wanted to create a national agriculture champion.” — Andrei Kostin, CEO of VTB

The Straits Times