Finland to Completely Ban Russians from Purchasing Real Estate

Written by Henrik Rothen

Jan.16 - 2024 12:35 PM CET

Photo: Wiki Commons
Photo: Wiki Commons
Finland to Completely Ban Russians from Purchasing Real Estate.

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The Finnish government is set to impose a complete ban on real estate transactions involving Russian citizens starting in spring 2024. This announcement was made by Finland's Defense Minister Antti Häkkänen on January 15. The decision is part of Finland's response to the ongoing situation with Russia and aligns with the European Union's sanctions framework.

The Finnish authorities are currently exploring legal avenues to implement this ban, as reported by the Helsingin Sanomat newspaper. The 12th package of EU sanctions against Russia has opened the possibility of confiscating real estate and businesses owned by sanctioned individuals, as noted by the Defense Minister.

This move by the Finnish government to restrict real estate transactions with Russian citizens does not require additional legislative action in parliament. "Certain decisions can be made already in the spring,” stated Häkkänen. The government also plans to conduct investigations into real estate already sold to Russians, alongside the complete prohibition of future transactions.

The decision follows Finland's earlier actions, including the closure of four border crossings with Russia on November 6 and the subsequent complete closure of all checkpoints on the border on November 30.

These measures were taken in response to an increase in undocumented third-country nationals seeking asylum at the Finnish border, allegedly with the assistance of Russian border guards.

This development reflects Finland's increasingly firm stance in its dealings with Russia, amidst broader geopolitical tensions and security concerns in the region.

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