Finnish authorities seize Russian state assets valued at tens of millions of euros in Helsinki

The seizure of Russian state assets in Finland has taken on remarkable aspects, as described by Aki Virtanen, the chief district bailiff, on A-studio this Tuesday. Currently, Finnish authorities have confiscated Russian state assets valued at tens of millions of euros, with the Helsinki District Court permitting seizures amounting to 4.2 billion euros.

The enforcement action is being driven by a group of Ukrainian companies that have requested the implementation of a court ruling. This decision stems from a protective measure issued by the Helsinki District Court, which the bailiff is executing. The goal of the Finnish enforcement authorities is to accumulate confiscations up to the court’s ruling of over four billion euros.

At present, a cautious estimate puts the value of the assets subject to these proceedings at approximately 38 million euros. This initiative follows a decision by the international arbitration court in The Hague in 2023, which ordered Russia to pay over five billion euros to the Ukrainian energy company Naftogaz for damages caused by its occupation of Crimea.

Finland has commenced its asset seizures to secure these compensation payments. Virtanen anticipates that further confiscations of Russian state assets may occur, noting that investigations are ongoing.

Currently, more than 40 assets have been seized across Finland, including the Russian Cultural and Scientific Center in Helsinki, numerous apartments in Helsinki and Turku, along with properties in Uusimaa and Åland.

In response to these actions, the Russian embassy in Finland has sent a note of protest to the Finnish Foreign Ministry, condemning the seizure of Russian state assets. Earlier on Tuesday, Russia announced its intention to file a lawsuit regarding these confiscations in Finland.