Finland blocks Russians' property purchases on national security grounds | Yle News | Yle
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Finland blocks Russians' property purchases on national security grounds

The Ministry of Defence has the authority to block real estate transactions from buyers outside the EU and EEA if they are seen as a threat to national security.

Antti Häkkänen.
Defence Minister Antti Häkkänen (NCP) announced the negative decisions on Thursday. Image: Mimmi Nietula / Yle
  • Yle News

On Thursday, Defence Minister Antti Häkkänen (NCP) issued two negative decisions on real estate transactions involving buyers from outside the EU and European Economic Area (EEA).

The negative decisions relate to the sale of one property in Pargas, in the Turku archipelago, and five properties in Kokemäki in Satakunta, all in southwestern areas of Finland.

The would-be buyers were private individuals with Russian citizenship.

"The Ministry of Defence carefully examines the background of each real estate buyer from outside the EU and EEA. Protecting our national security is particularly important in the current security situation," Häkkänen said in a press release.

Real estate transactions can be assessed as a threat to national security and as obstacles to organising defence, the Defence Ministry explained in its press release concerning the decision.