Russia will challenge asset seizures in Finland

The Kremlin announced on Tuesday that it will challenge the confiscation of Russian assets in Finland, following reports that Finnish authorities have started seizing properties linked to Moscow in response to Ukraine’s compensation claims.

“We will dispute this decision in court. The Russian Federation will protect its property interests using all available legal avenues,” said Kremlin spokesman Dmitry Peskov during a press briefing in Moscow.

On Monday, Ukraine’s national oil and gas company Naftogaz disclosed that a court in Helsinki had blocked certain Russian assets in Finland valued at “tens of millions of dollars.” This action is part of Naftogaz’s efforts to recover losses resulting from Russia’s annexation of Crimea in 2014.

In April 2023, the Permanent Court of Arbitration in The Hague ruled that Russia must pay over $5 billion to Naftogaz.

“Since Russia is refusing to voluntarily pay the compensation mandated by the Hague ruling, we are utilizing all available mechanisms to recover these funds,” Naftogaz CEO Oleksiy Chernyshov stated on Monday.

According to the Helsingin Sanomat newspaper, Finland’s National Enforcement Authority has begun seizing properties in the capital, including the Russian Centre of Science and Culture in Helsinki.
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