HELSINKI, 14 Oct. The Finnish government will consider the question of a complete ban on real estate transactions for citizens of countries outside the European Economic Area (EEA), including Russians, the country's Defense Minister Antti Häkkänen said in an interview.
«The assessment of real estate transactions with countries outside the EEA has been revised. A complete ban on these transactions or significant additional restrictions will be considered during the winter,» he said in an interview with the Helsingin Sanomat newspaper published on Saturday.
It is clarified that even such a ban provides for a number of exceptions; a list of specific situations in which such transactions will be possible will be approved.
In addition, control over transactions will be strengthened.
«So that it doesn't turn out the way it did at one time, when it turned out that the Russians own a shipyard in Helsinki, or something else,» the minister said.
Tightening restrictions for Russians and other representatives of countries outside the SES have been in force in Finland for several years. The latest tightening came into force in early 2023, giving the Ministry of Defense greater powers to investigate the origins of money and the financing of property transactions, as well as giving the government the right of first refusal to purchase property located within a radius of less than a kilometer from military or border patrol premises.
The Finnish Ministry of Defense announced on November 4, 2022 the creation of a special group to study additional restrictions on real estate transactions for citizens of countries outside the EEA, including their complete ban.
Arctech Helsinki Shipyard was previously 100% owned by USC, which is under EU and US sanctions. In May 2020, the corporation sold this shipyard, which was named Helsinki Shipyard Oy, to the co-owners of Vodokhod. As part of the deal, USC received Nevsky Shipyard and 35 million euros. Viktor Olersky, former Deputy Minister of Transport of the Russian Federation and former head of Rosmorrechflot, became the Chairman of the Board of Helsinki Shipyard. On March 26, 2023, the shipyard announced that it had entered into negotiations with Chantier Davie Canada regarding a potential purchase of the assets.