Czech court rejects Russian company's appeal against freezing of 61 properties

An appeal by a Russian foreign asset management company subordinate to the Russian Presidential Administration against the freezing of 61 properties in Czechia has failed after being thrown out by the Supreme Administrative Court.

Source: Czech news agency Novinky, as reported by Ukrainska Pravda

Details: The company has been sanctioned in connection with Russia's war against Ukraine.

In October 2024, the Czech Financial Analytical Office ruled on the basis of a government resolution that the company was subject to international sanctions prohibiting the disposal of assets.

The court noted: "In total, there were 61 properties belonging to the Russian Federation in the cadastral areas of Bubeneč, Střešovice, Karlovy Vary, Brno-Pisárky, Brno-Kníničky, Vlkančice and Jevany." The court concluded its ruling by prohibiting the use of these properties to generate income.

The Supreme Administrative Court rejected the cassation appeal against the decision of the Prague Municipal Court as unfounded.

The Russian side had argued, among other things, that the company was merely a property manager. It listed the Russian Federation, which is not itself on the sanctions list, as the owner. The courts rejected this claim, noting that the institution had the ability to dispose of these properties.

The Russian company is involved in several sanctions-related lawsuits in Czechia.

Background:

• On 22 September, the Council of the EU decided to extend restrictive measures against individuals responsible for undermining or threatening Ukraine's territorial integrity, sovereignty and independence for another 36 months. However, it removed Russian oligarchs Alisher Usmanov and Mikhail Fridman from the sanctions list.
• Estonia, Latvia and Lithuania subsequently announced the introduction of national sanctions.

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