Finland seized assets of the Rotenberg brothers

Assets belonging to Russian businessmen Arkady Volozh, Boris, and Arkady Rotenberg were arrested in Finland.

This is reported by the Helsingin Sanomat.

According to the newspaper, the Finnish authorities made new arrest decisions in August and early September. Volozh and the Rotenberg brothers are on the EU sanctions list.

The assets of Russia's largest search company, Yandex, of which Volozh is founder and CEO, were arrested in Finland.

According to the August ruling, Yandex runs Yango transport service in Finland and has a data center in Mänsälä, whose waste heat is used in much of Mänsälä's district heating production.

Yandex Oy changed its name to Global DC Oy in Finland in the spring. Volozh had already resigned as CEO and a seat on the company's board of directors. However, this did not exempt him from sanctions.

The Rotenbergs have seized shares in Långvik Capital and its stakes in two other companies, including the country's largest indoor ice stadium, formerly known as Hartwall Arena, and the Långvik Spa Hotel in suburban Helsinki.

In addition to Rotenberg, another oligarch, Gennady Timchenko, owns a significant stake in Helsinki Halli. His shares have already been seized.

The freeze means that Långvik Capital's assets cannot be pledged, sold, or otherwise taken over without the permission of a bailiff. As for the Rotenbergs, these are temporary measures, which usually precede the actual confiscation decision.

Author - Olena Madiak, 23/09/2022