Finland seizes Russian assets: Diplomatic tensions rise
The Russian Ministry of Foreign Affairs invited the Finnish ambassador to a meeting to express strong opposition to the Finnish court's decision to seize Russian assets worth approximately 5.9 billion Canadian dollars. The confiscation was carried out at the request of the Ukrainian company Naftohaz, which demands compensation for lost property in Crimea.
The Russian Ministry of Foreign Affairs reacted sharply to the seizure by Finnish authorities of 45 properties belonging to the Russian Federation. According to the Russian side, the seized properties include buildings with diplomatic immunity, used by the Russian embassy for official purposes.
A representative of Russian diplomacy informed the Finnish ambassador "to reconsider this illegitimate decision, grossly violating provisions of the Vienna Convention on Diplomatic Relations of 1961, as soon as possible." Russia also warned that if there is no response from Helsinki, retaliatory actions will be taken.
Extensive asset seizure operation
Finnish enforcement services seized several valuable properties located in various parts of the country. Among the seized assets were estates on the Åland Islands, an office-residential complex in Helsinki, and exclusive residences located on the Gulf of Finland, which were used by Russian diplomatic staff.
Earlier, the Finnish enforcement agency also seized a prestigious science and culture centre building in the heart of Helsinki, which was owned by the Russian Federation.
Ukrainian claims as the basis of actions
The legal basis for the confiscation of Russian assets is an arbitration ruling in The Hague from April 2023. The tribunal ordered Russia to pay more than 7.4 billion Canadian dollars in compensation to the Ukrainian company Naftohaz. The compensation concerns losses suffered by the Ukrainian company as a result of the annexation of Crimea in 2014, when it lost control over its installations and resource stockpiles on the peninsula.
Due to the non-compliance with the ruling by the Russian side, the Ukrainian company initiated efforts to freeze and seize Russian assets in various countries. The actions taken in Finland are part of this international enforcement campaign.
