Czechia freezes Russian state-owned property on its territory

Photo: René Volfík,

The Czech government has moved to freeze Russian state-owned property on Czech territory by placing the company that manages these assets on its national sanctions list. The foreign minister said Prague would strive to get this measure approved across the EU.

Czech Foreign Minister Jan Lipavský on Wednesday announced the government’s decision to place another legal entity on the country’s national sanctions list – a Russian company, which is controlled by the Russian presidential administration and is in charge of managing Russian assets abroad. The move should guarantee that income generated by the company in this country will not be used to finance the war in Ukraine, Mr. Lipavský said.

“This company controls and operates a vast amount of Russian state-owned property in the country, predominantly real estate in Prague and Karlovy Vary, which generates significant financial income. As of this moment the company’s assets are frozen and its commercial activities are illegal, as is any attempt to evade the sanctions.”

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Author: Daniela Lazarová, Source:Český rozhlas