Finland Seeks to Block Russian Real Estate Deals in New Security Move

Written by Kathrine Frich

Sep.02 - 2024 12:44 PM CET

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Photo: Shutterstock
Photo: Shutterstock
This proposed ban comes in the wake of other significant measures taken by Finland.

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The Finnish government announced plans to prohibit Russian nationals from buying property in Finland.

Wish to Limit Russian Influence

This latest measure is part of Finland’s broader strategy to limit Russian influence following a series of other restrictive actions, according to Hotnews.

Defense Minister Antti Hakkanen revealed that the government is sending a proposal for consultation aimed at banning real estate transactions linked to Russia. However, the ban will have exceptions. Finnish-Russian dual citizens and Russians with permanent residency in Finland will still be permitted to purchase property.

Hakkanen explained that the restriction aims to "prevent possible hostile influences against Finland," a sentiment echoed by other officials. Currently, Finland is monitoring approximately 3,500 properties in the country that may be associated with Russian owners.

Helsinki has already taken steps to restrict Russian property purchases near strategic sites, blocking six transactions between October of the previous year and January of this year.

Closed Russian Schools

This proposed ban comes in the wake of other significant measures taken by Finland. In May, Finnish authorities closed schools offering Russian language and culture courses in two cities, a move that displeased over 700 students’ parents and local education officials who valued cultural connections between the nations.

Additionally, in September 2023, Finland joined other European countries in banning vehicles with Russian license plates, in line with European Union sanctions against Moscow due to the ongoing conflict in Ukraine. Estonia, Latvia, and Lithuania have also implemented similar restrictions.

Furthermore, Finland has indefinitely closed its border crossings with Russia since April due to an influx of migrants from Syria and Somalia seeking entry into Finland via Russia.