April 14, 2025

Finn-ancial Crisis?


Finn-ancial Crisis?
Finnish and Russia border posts glare at each other. The Russian Life files

On April 11, the parliament of Finland unanimously enacted a law that prevents Russian citizens from owning real estate in Finland.

The new statute states that any citizen of a country engaged in an "aggressive war and who may pose a threat to the country's [that is, Finland's] national security" may not purchase real estate. Those with dual citizenship or permanent residency are exempt, but are still subject to investigation should they choose to buy property.

The goal seems to be to specifically target wealthy Russians, many of whom are a part of the Putin regime, from making investment purchases.

Finland, which shares a 830-mile-long border with Russia, has turned closer and closer towards the West since Russia began its war in Ukraine. In May 2022, just a couple months after the invasion began, Finland reversed its decades-long neutrality and joined NATO.

More recently, Finland has shored up its border fences and prevented cars with Russian plates from entering the country.

Tensions continue to simmer.

 

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