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Published 7 months ago

Czechia freezes Russian state-run real estate in the country

  • Czechia has frozen real estate managed by Russia's state agency overseeing state-owned real estate abroad, as announced by the Czech Foreign Ministry. The agency, Goszagransobstvennost, is also prohibited from conducting commercial activities in Czech territory.
  • The Czech government aims to halt the sale, transfer, and lease of properties managed by Goszagransobstvennost, which contributes revenues to Russia's state budget. The move is seen as an effort to stop financing activities linked to the conflict in Ukraine.
  • Czech Prime Minister Petr Fiala plans to advocate for other European countries to implement similar measures against Russia. This is the seventh sanction imposed by Czechia over Russia's invasion of Ukraine, which excludes diplomatic buildings.
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