Finland seizes $4.3M in Russian state assets to enforce Ukraine compensation claim

Finland has seized nearly €4 million ($4.3 million) in Russian state assets as part of efforts to enforce a compensation claim by Ukrainian energy company Naftogaz over losses linked to Russia’s actions in Ukraine, Finnish public broadcaster YLE reported Tuesday.

Finland’s National Enforcement Authority said about €3.7 million ($4 million) was placed under temporary seizure following a claim filed by Naftogaz and its subsidiaries.

The funds originate from a now-defunct EU cross-border cooperation program between Finland and Russia that supported development projects in border regions.

According to YLE, Russia had paid its share of funding before launching its full-scale invasion of Ukraine in 2022. The program was later terminated, leaving the funds in Finland.

Authorities described the seizure as a precautionary measure intended to prevent the transfer or disposal of the assets while safeguarding the claimant’s interests.

Since 2024, Finland has seized more than €40 million ($43 million) in Russian assets, the report said.

Separately, Finnish authorities have begun enforcing compensation claims related to damages in Ukraine based on international court rulings.

A Helsinki court recently approved enforcement of a 2023 ruling by the Permanent Court of Arbitration in The Hague that awarded Naftogaz about €4.3 billion ($4.6 billion) in compensation for assets it says were expropriated in Crimea following Russia’s 2014 annexation of the peninsula.

Russia has appealed the ruling, according to the report.

• Finland's National Enforcement Authority