Russia to contest seizure of its assets in Finland, says Kremlin

By Burc Eruygur

ISTANBUL (AA) - The Kremlin announced on Tuesday that it will contest the seizure of Russian assets in Finland, following reports that Finnish authorities have begun confiscating properties belonging to Moscow in response to Ukraine's claims for compensation.

“Of course, we will dispute this decision in court. The Russian Federation will defend its property interests and will use all legal mechanisms to protect those interests,” Kremlin spokesman Dmitry Peskov told reporters in Moscow.

On Monday, Ukraine’s national oil and gas company Naftogaz revealed that a court in Helsinki had blocked certain Russian assets in Finland valued at “tens of millions of dollars.” This action is part of Naftogaz's strategy to recover losses incurred from Russia's annexation of Crimea in 2014.

In April 2023, the Permanent Court of Arbitration in The Hague ruled that Russia must pay more than $5 billion to Naftogaz.

“Since Russia refuses to voluntarily pay the compensation stipulated by the Hague ruling, we continue to leverage all available mechanisms to recover these funds,” Naftogaz CEO Oleksiy Chernyshov was quoted as saying on Monday.

According to Helsinki-based Helsingin Sanomat newspaper, Finland's National Enforcement Authority has begun seizing property in the capital, including the Russian Centre of Science and Culture in Helsinki.