Menu

Finnish Capital Forces Russian Owners to Sell City's Largest Sports Arena to Finns

By
Photo: Finnish Capital Forces Russian Owners to Sell City's Largest Sports Arena to Finns. Source: iihf.com
Photo: Finnish Capital Forces Russian Owners to Sell City's Largest Sports Arena to Finns. Source: iihf.com

Helsinki has forced the sanctioned Russian owners to sell the city's largest sports arena to Finnish investors, Reuters reports, citing the Finnish Ministry of Foreign Affairs.

The deal was announced the day after Helsinki initiated the expropriation of the arena from its Russian owners.

In 2023, the city said that Russian-Finnish businessmen Gennadiy Timchenko and Roman Rotenberg, who control the company that owns the arena, would face expropriation if they did not voluntarily sell the property.

‘The Helsinki Arena, a large concert venue and hockey arena, has been closed since 2022 due to sanctions imposed on Russian investors following Moscow's full-scale invasion of Ukraine that year.

The extension of the expropriation was reportedly necessary to stop the building from deteriorating and to prevent damage to Finland's reputation for its inability to cater for major international events.

In 2023, the capital's authorities estimated that hotels, restaurants and other businesses lost up to $425.24 million in revenue per year while the arena was idle.

All of Timchenko's assets in the EU are frozen, and Rotenberg is subject to US sanctions imposed on his father Boris, uncle Arkadiy and their families for their close ties to Vladimir Putin.

Earlier, the Helsinki District Court granted a motion filed by Naftogaz of Ukraine and five other Naftogaz Group companies and seized certain assets owned by Russia in Finland.

Similar articles

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them. Cookie Policy

Outdated Browser
Для комфортної роботи в Мережі потрібен сучасний браузер. Тут можна знайти останні версії.
Outdated Browser
Цей сайт призначений для комп'ютерів, але
ви можете вільно користуватися ним.
67.15%
людей використовує
цей браузер
Google Chrome
Доступно для
  • Windows
  • Mac OS
  • Linux
9.6%
людей використовує
цей браузер
Mozilla Firefox
Доступно для
  • Windows
  • Mac OS
  • Linux
4.5%
людей використовує
цей браузер
Microsoft Edge
Доступно для
  • Windows
  • Mac OS
3.15%
людей використовує
цей браузер
Доступно для
  • Windows
  • Mac OS
  • Linux