Politics

The Czech Republic freezes Russian assets in real estate

Published

2 years ago

November 16, 2023

The Czech government said today that it is freezing Russian-owned real estate in the country. This is part of the sanctions imposed by Prague because of the Russian invasion of Ukraine, Reuters reported. The EU member state’s government press office said sanctions were also imposed on a Russian company controlled by President Vladimir Putin’s administration, which is responsible for managing the Russian state’s assets abroad. The statement did not name the company.

“Revenues from the company’s activities serve to directly finance the Putin regime,” the government said in a statement. “As of today, the company’s commercial activities are considered illegal, as well as the circumvention and violation of this sanction, and the company’s assets in the Czech Republic are frozen,” adds the press service of the cabinet, from where they note that on the territory of the Czech Republic, the Russian company in question manages a number of real estate properties.

In principle, the imposed sanctions do not affect diplomatic missions, the Czech news agency (CTK) clarifies, referring to the Minister of Foreign Affairs, Jan Lipavsky. The Czech sanctions list goes beyond the scope of the EU sanctions packages, including six other individuals and entities. This country has been one of Ukraine’s biggest supporters since Russia invaded the neighboring country in February last year, Reuters notes.

Photo: RUSSIAN PRESIDENT VLADIMIR PUTIN — KREMLIN.RU-COMMONS.WIKIMEDIA.ORG

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John B. Rowlands

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