Finland moves to block Russian real estate investments
Finland will prohibit Russian citizens from purchasing real estate in the country. "The government has just decided to submit a proposal to parliament to ban real estate transactions by Russians in Finland," said Finnish Defence Minister Antti Häkkänen on Thursday. Parliament is expected to address this issue closer to the spring.
Russians will not be able to purchase real estate in neighbouring Finland. According to the Finnish service Iltalehti.fi, the country's authorities want to "prevent hostile, large-scale influence" by taking this action. They emphasise that by acquiring real estate, Russians may use it for reconnaissance or sabotage purposes.
Finland will prohibit Russians from buying real estate
The authorities in Helsinki highlight that two conditions have been met to issue such a ban. According to the first, the European Union states that Russia is currently conducting an "aggressive war." The second condition is that the Kremlin poses a direct threat to Finland's security.
No citizens or companies from any other country have been subjected to such a ban. In the case of China and North Korea, the second criterion (the threat to Finland) is not met. In practice, the ban currently applies exclusively to Russia, explained the Finnish minister.
When the new regulations come into force, the Finnish Ministry of Defence will be able to start an investigation as soon as suspicion arises. The independent "The Moscow Times" reported that last year Finland blocked several real estate transactions by Russian companies and citizens, citing a threat to national security.
Finland joined NATO in April 2024 after several decades of being a neutral country, albeit within an area of significant Moscow influence. Helsinki's move was influenced by the regime of Vladimir Putin initiating a full-scale war in Ukraine. By joining the alliance, a country with over a 1,300-kilometre border with Russia became a member, with memories of wars with the USSR (the so-called Winter War in 1939-1940 and 1941-1944). Despite the challenging geographical position, Helsinki consistently calls for a tougher stance in dealing with the Kremlin, but without escalation.
