Finland has seized €3.7 million in Russian assets in favor of Naftogaz
Finland’s National Debt Collection Agency has seized €3.7 million in assets belonging to the Russian Federation. The funds are to be used to compensate Naftogaz of Ukraine and its subsidiaries for property lost as a result of the occupation of Crimea.
This refers to the Russian Federation’s financial contribution to a border cooperation program with the European Union. These funds were transferred before the start of the full-scale invasion, but after the project was terminated, they remained in the accounts of Finland’s Ministry of Labor and Economic Development.
In late May, the Helsinki District Court authorized the enforcement in Finland of the 2023 Hague arbitration award regarding the recovery of compensation from Russia in favor of Naftogaz.
The total amount of compensation awarded is approximately €4.3 billion for assets lost following the occupation of Crimea.
Under international arbitration rules, participating states are required to recognize such awards and ensure the recovery of funds within their jurisdiction.
According to Yle, since 2024, the Finnish Enforcement Authority has already seized Russian assets totaling more than 40 million euros.
Source: Yle.
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