Russia vows to challenge seizure of state assets
Russia will launch a legal challenge to Finland’s decision to seize its assets in the country following a legal motion filed by a Ukrainian energy firm, Kremlin spokesman Dmitry Peskov said on Tuesday.
Finnish news outlets reported on Monday that the country’s authorities had begun procedures to confiscate the frozen assets belonging to the Russian government. The press office of the District Court of Helsinki told TASS that all of the documents related to the court’s two rulings about the seizure had been classified.
“We will definitely challenge this [decision] in court,” Peskov said during a press call, adding that he was not aware of the details of the case. The spokesman stressed that Russia will use all legal mechanisms to protect its property interests.
The newspaper Helsingin Sanomat earlier reported that the measure targets six properties owned by Russia in Finland, including a large plot of land belonging to the Russian Center for Science and Culture in Helsinki (RCSC). A residential building and an office building, as well as three assets on the Aland Islands, including a plot of land by the sea, are reportedly among what has been seized. The media reports noted that the asset confiscation, which took effect on October 24, occurred in response to a lawsuit filed by a Ukrainian energy firm.
The Finnish state-run broadcaster Yle clarified that the confiscated beach property, including an offshore zone, is located in the municipality of Kirkkonummi. According to the reports, the property was used by Russian diplomats for recreation.
RBK-Ukraine reported that the confiscation came at the request of Ukrainian state-run energy giant Naftogaz, which is seeking to enforce a $5 billion arbitration award issued in its favor by the court at The Hague in April 2023.
The case is centered on a property that was nationalized by the Crimean parliament in March 2014 shortly after the peninsula joined Russia following a referendum. Prior to these developments, Naftogaz had owned a gas production facility in Crimea with annual production of about 1.6 billion cubic meters.
The Ukrainian company pledged to file lawsuits against Russia in the US and EU to obtain compensation by having Moscow’s assets in those jurisdictions confiscated if the Russian authorities didn’t voluntarily pay the award issued by The Hague.
