The government of Finland is mulling the possibility of prohibiting banning Russian citizens from buying property in the country.
The Moscow Times, an independent Russian news source, reported a decision on this ban could come as early as this spring. The new policy is part of the ongoing tensions between the two countries that have percolated since Russia’s invasion of Ukraine in 2022.
“Several Russian [real estate] transactions have been found to have links that are problematic for national security,” said Finland’s Defense Minister Antti Hakkanen. “However, not everything can be always found out. That’s why a total ban would be better.”
The Finnish government previously rejected the idea of a ban as “ineffective and inappropriate,” but Hakkanen said it was necessary to prevent Russia from destabilizing its economy.
“In addition, the background of properties that have already been sold would be investigated and the use of middlemen in transactions would be more severely restricted,” he said.
In addition to a ban on Russian property ownership, Hakkanen said the government would seek to tighten all real estate transactions made by individuals and entities from outside the European Union, Iceland, Norway and Liechtenstein.
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