Finland Blocks Property Sales to Russians on Security Grounds

Finnish authorities blocked three property sales to Russian buyers on defense and security grounds.

(Bloomberg) — Finnish authorities blocked three property sales to Russian buyers on defense and security grounds.

The properties are located close to the border in the southeast, and the Defense Ministry said the real estate acquisitions would have hindered safeguarding Finland’s territorial integrity.

The Nordic country guards 1,300 kilometers (800 miles) of North Atlantic Treaty Organization border with Russia. A new law that entered into force at the start of the year gave authorities wider powers to stop property transactions on national security grounds.

Read More: Finland Aims to Stop Foreigners Buying Property Near Army Sites

The decision, signed by Defense Minister Antti Hakkanen, concerns two properties in the town of Ruokolahti and one in Kitee, the government said in an emailed statement on Thursday.

Last year authorities prevented a sale of former nursing home property in Kankaanpaa in the west of the country near an army site.

Read More: Finland Blocks Sale of Property Near Garrison to Russian Buyers

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