Finland Moves to Restrict Russian Property Purchases Amid Security Concerns

Finland's government is proposing a ban on most Russian citizens buying property to safeguard national security. This follows heightened tensions with Russia after its invasion of Ukraine in 2022. The ban exempts dual citizens and permanent residents and is pending expert consultations and parliamentary approval.

In a significant move to safeguard national security, Finland's government is proposing to ban the majority of Russian citizens from purchasing property in the Nordic country, as announced by Defence Minister Antti Hakkanen on Monday.

The deteriorating relationship between Finland and Russia following Moscow's 2022 invasion of Ukraine—a catalyst for Finland's decision to join NATO—has prompted this new regulation.

The proposed ban, still subject to parliamentary approval, will exempt dual citizens and Russians with permanent residency in Finland or other EU nations. Hakkanen emphasized that the regulation aims to prevent potential hostile influences on Finland.

Finland is currently keeping an eye on approximately 3,500 properties linked to Russian ownership and has already restricted property acquisitions near strategic locations based on existing regulations. The Finnish-Russian border, stretching 1,340 km, is also closed, with Finland accusing Russia of weaponizing migration to exert pressure.

(With inputs from agencies.)