Finland arrests assets of Yandex, Russian billionaires Rotenbergs
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The shares of the Rotenbergs' Långvik Capital and its shares in two other companies, as well the accounts of the Finnish division of Yandex, have all been seized.
As a result of the arrest of Långvik Capital, Finnish authorities gained control over the shares of the Helsinki Halli ice arena and the Långvik company, which manages a hotel complex. In addition to the Rotenbergs, Russian oligarch Gennady Timchenko also owns a significant share of Helsinki Halli, and his shares have already been arrested.
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Helsinki has also frozen the accounts of the local division of Moscow-based tech firm Yandex, one of the founders of which, Arkady Volozh, has run afoul of EU sanctions. The company operates the Yango taxi service and a data center in Mäntsälä.
The arrest means that the property cannot be sold or pledged without the permission of a bailiff.
Read also: EU ministers to impose new sanctions on Russia and in-crease arms supplies to Ukraine
It is worth noting that Rotenberg brothers had used a loophole in British law to circumvent sanctions. The Rotenbergs created a type of company that is not required by law to identify its true owners.
Read the original article on The New Voice of Ukraine
