In a rare rebuke of the Kremlin’s growing control over private enterprise, Russia’s central bank has determined that the state violated minority shareholders’ rights in several recent asset takeovers linked to the Ukraine conflict , sources told Reuters.

The move marks the first visible pushback from within Russia’s elite against the sweeping nationalisation drive that has seen tens of billions of dollars in foreign and domestic assets seized.

But within parts of the Russian elite, there are signs of a backlash, especially among market-friendly technocrats who are credited with saving the Russian economy from collapse amid the toughest sanctions ever imposed on a major economy.

Some business executives and central bank and finance ministry officials are questioning what they see as

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