Finnish government confirms sanctions list of Russian companies

Finnish government confirms sanctions list of Russian companies

Helsingin Sanomat said on Tuesday that they have seen the documents cited by the radio channel, which show that they contain Russian companies that have been highlighted in red or green depending on whether or not they fall within the scope of sanctions in the assessment of Metso Outotec.

Most of the over a hundred companies are highlighted in green, including Metalloinvest and Udokan Copper. Nearly half of the shares in the two companies are owned by Alisher Usmanov, an oligarch who is featured in the sanctions list of both the EU and the United States.

The EU cites Usmanov as one of the favourite oligarchs of Russian President Vladimir Putin.

The sanctions-related assessment of all its clients and deliveries was carried out by Vauramo, according to YLE.

He commented to the public broadcasting company that we ve done internal assessments and utilised external international law firms, which have assessed the sanctions from the perspective of different legal systems.

Metso Outotec has only made deliveries to clients that are not subject to sanctions in Russia, he said. The deliveries have been continued in accordance with the commitments laid out in the wind-down agreements it has made in the wake of the invasion. The company is planning to shut down its operations in the country in the coming months.

There were many contracts that were signed before the war started, said Vauramo.

As the sanctions have been adopted, we have updated the situation and continued our deliveries based on wind-down agreements to the extent that the sanctions and other export regulations have made it possible. Between April and June, Metso Outotec made about 67 million euro in deliveries to Russia. The names of recipients have not been revealed by the company.

Mikael Ruotsi, a legal officer at the Ministry for Foreign Affairs unit for public international law, told YLE that the EU sanctions are binding for citizens and companies in the 27- country bloc. The sanctions regime prohibits participation in activities that could lead to assets being made available directly or indirectly to a sanctions-listed individual or entity.

The Ministry for Foreign Affairs stated that subverting the sanctions could be punishable under sections 1 3 of Chapter 46 of the Finnish Criminal Code.