Summary

Ukrainian oil and gas company Naftogaz has frozen Russian state-owned real-estate holdings and other assets in Finland, valued in the tens of millions of dollars.

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The asset freeze, which went into effect on October 24 and implements a previously undisclosed Helsinki court order from August, is part of Naftogaz's ongoing efforts to enforce a USD 5-billion arbitration award against Russia for the Kremlin's unlawful expropriation of Naftogaz's property in Crimea in 2014, and it prevents Russia from dissipating assets in Finland while proceedings to enforce the award are ongoing.

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