Poland has begun confiscating the assets of Russian oligarchs.

Poland has introduced temporary management of Russian oligarch Vyacheslav Kantor’s property in Grupa Azoty, Polish Minister of Development and Technology Waldemar Buda said.

“We are eliminating the presence of Russians in the Polish economy. We do not want this Russian to be connected with a Polish strategic company – the leader of the domestic fertilizer market and one of the key groups of companies in the fertilizer and chemical industry in Europe,” he added. Buda said that in the future, the Polish authorities will look for a partner to buy the frozen 20% share of of Grupa Azoty shares and pay compensation.

Grupa Azoty specializes in producing structural plastics, nitrogen, and compound fertilizers. The group is one of the largest chemical holdings in Europe and a major producer of polyamides.

Vyacheslav Kantor’s Acron Group owns 19.82% of Grupa Azoty.