ATHENS

Finland proposed legislation in parliament on Thursday that would prohibit foreign real estate acquisitions from countries waging an aggressive war and posing a threat to national security, implying that Russian citizens would be targeted.

“The objective of this bill is to restrict the possibilities of Russians to buy real estate in Finland. Russia poses a persistent security threat in Europe, and real estate can be exploited to exert hostile influence,” Defense Minister Antti Hakkanen said in a statement on X.

Such activities can target the Finnish economy, infrastructure, businesses, and supply security, as well as Finland's ability to provide security for its population, he said, adding, "We made this bill because we want to restrict all possible risks to the security of people in Finland."

Under current Finnish law, it is possible to prevent real estate sales if a threat is detected, public broadcaster YLE reported.

However, he said this new law would make it easier.

Last year, the Ministry of Defense blocked several real estate transactions over buyers’ ties to Russia, YLE reports.

The Finnish defense minister said he hopes the bill can be debated this spring and enter into effect shortly thereafter.

Another law is pending to enable Finnish authorities to review properties that have already been sold.

According to YLE, Finnish citizens and permanent residents would not be affected.