First Time in Europe: Finnish Court Seizes Russian State Assets Worth Tens of Millions Euros to Compensate Ukraine for Crimea Occupation

For the first time in Europe, a Finnish court has ordered the seizure of Russian assets to compensate Naftogaz of Ukraine for losses caused by the Russian occupation of Crimea. There are now forty confiscated assets with a total value of over EUR 35 million. The destinations are located in Helsinki, Turku, Kirkkonummi, Siuntio and Saltvik on the Åland Islands, among others, Ylo reports.

The most valuable properties are the office property on Vattuniemenkatu in Helsinki (estimated value of the property is EUR 10,000,000), the property of the Russian Cultural Centre on Nordenskilödinkatu in Helsinki (EUR 7,000,000) and the property on Häggesbölevägen in Kirkkonummi (EUR 2,000,000).

On Monday, the Helsingin Sanomat reported that property belonging to the aggressor country Russia had been seized in various parts of Finland. The law enforcement agency's actions are based on the decision of the Hague International Arbitration Court in April 2023. The court ordered Russia to pay more than five billion euros to the Ukrainian energy company Naftogaz as compensation for the damage caused by the occupation of Crimea.

Russia illegally occupied the Crimean Peninsula, which belongs to Ukraine, in 2014. In February 2022, Russia launched a full-scale war of aggression against Ukraine, which is still ongoing.

Finland was the first country to implement court-ordered protection measures after the Hague arbitration.