The Czech government has placed a Russian company on its national sanctions list, ensuring that income generated by the company in the country will not be used to finance the war in Ukraine. The company controls and operates a vast amount of Russian state-owned property in the Czechia (predominantly real estate in Prague and Karlovy Vary), which generates significant financial income.
The company’s assets are now frozen and commercial activities are forbidden. The Czech government emphasised that buildings used by the Russian Embassy for diplomatic purposes are excluded from the sanctions, as they are protected by diplomatic immunity, but property in Russian state ownership will be blocked in the land registry so that it cannot be sold to a third party.
Private persons and legal entities who are housed in these facilities will continue paying rent to a special account from which money may be withdrawn for repairs so that the buildings can be maintained. The Czech government will strive to get the company on the EU sanctions list as well. Ukrainian Foreign Minister Dmytro Kuleba applauded the Czech government’s decision and called on other European states to follow suit.
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