About 207 million euro ($225 million) worth of Russian assets have been frozen in Finland as part of the sanctions against Russia as of February, the Finnish Foreign Ministry said on Tuesday
HELSINKI (UrduPoint News / Sputnik – 11th April, 2023) About 207 million euro ($225 million) worth of Russian assets have been frozen in Finland as part of the sanctions against Russia as of February, the Finnish Foreign Ministry said on Tuesday.
“As at the end of February, the debt collection agency has frozen about 207 million worth of assets of sanctioned Russian companies in Finland. Over 300 freezing orders have been issued. They apply to all assets, including minor payments and funds deposited in bank accounts,” the ministry’s statement said.
Restrictions have affected real estate ownership, shareholdings, apartment ownership, vehicles, bank accounts and debts, according to the ministry. There have been several court proceedings in which property owners attempted to challenge the sanctions imposed on them, the statement said.
“Courts play the key part in the implementation of the sanctions and are crucial for their efficiency. Ultimately, it is in courts that the efficiency of the sanctions’ regime will be put on trial,” Pia Saarivaara, the ministry’s representative responsible for sanctions, was quoted as saying in the statement.
She added that this year, the main focus of the ministry would be on the more efficient enforcement of sanctions, sanctions evasion control and extended cooperation with the private economy.
Since February 2022, the European Union has imposed 10 packages of sanctions against Russia over its special military operation in Ukraine. Russian President Vladimir Putin said that the policy of deterring and weakening Russia is the West’s long-term strategy, and sanctions have inflicted serious damage to the global economy.