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Finland to return sanctioned Russian property

Added 11-26-22 03:37:03am EST - “Helsinki has decided to give back some 800 Russian railcars detained earlier this year due to sanctions, the Russian trade mission reports” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “Finland to return sanctioned Russian property”. Below is an excerpt from the article.

The Finnish authorities have decided to give back Russian railcars detained earlier this year due to sanctions, Moscow’s trade mission in Finland said on Friday. According to its data, more than 800 loaded and empty railcars were seized as of early November.

The decision to return the railcars was made by the Ministry of Foreign Affairs on November 15 following an appeal from Finnish railway operators and the Finnish Transport and Communications Agency (Traficom). According to the appeal, the storage and maintenance of the trains turned out to be too costly and difficult for the rail system operators. In addition, it was noted that some of the railcars contained hazardous substances.

“On November 15, 2022, the Finnish Foreign Ministry decided to return the seized property exceptionally for reasons of reducing costs and security risks to the country’s transportation system,” the Russian trade mission said in its statement.

It noted that the Finnish bailiff service has already notified a number of Russian companies that own the railcars that they will be returned. The railway operators will conduct inspections of the trains and prepare them to be moved across the Russian-Finnish border. No specific dates for this have been announced.

In late May, Helsingin Sanomat newspaper reported that Finland was seizing €80 million-worth of Russian property, including more than 1,000 freight railway cars which occupied about 20km of tracks. The news outlet noted at the time that among the confiscated cargo were about 1.3 tons of acetic acid worth €1.4 million, 248 tons of butyl acetate, and iron ore pellets.

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