Finnish authorities seize €3.7 million in Russian state funds

Finnish enforcement officers have confiscated €3.7 million in Russian state assets this year, bringing the total seized in 2026 to nearly €4 million, according to a decision by the Finnish Enforcement Authority (Ulosottolaitos).

The funds, originally allocated to a now-defunct EU cross-border cooperation program between Finland and Russia, were frozen following a legal claim by Ukraine’s state energy company Naftogaz. The company is pursuing billions in compensation for war damages through international courts.

A Helsinki district court ruled earlier this spring that Naftogaz’s claims could be satisfied using Russian assets seized in Finland. The latest confiscation covers funds Russia had transferred to Finland’s Ministry of Economic Affairs and Employment before its 2022 invasion of Ukraine halted the joint program.

The seizure remains in effect indefinitely as a precautionary measure to prevent asset dissipation. Since 2024, Finnish authorities have frozen over €40 million in Russian-owned property and funds.

Last week, the same court upheld a 2023 Hague arbitration ruling ordering Russia to pay Naftogaz billions in compensation for losses incurred during the 2014 annexation of Crimea. Russia has appealed the decision.