Russian Art Worth €42 Million Seized in Finland Under Sanctions

(Bloomberg) -- Finland has seized more than 42 million euros ($46 million) worth of art en route to Russia under European Union sanctions after President Vladimir Putin's invasion of Ukraine.

The art was being returned from museums in Italy and Japan where the works had been on loan, the Finnish Customs told reporters in Helsinki on Wednesday. They arrived in three shipments and were taken into custody at the Finnish-Russian border on April 2 and 3.

The shipments contained paintings, statues and antiques, and a number of Russian museums are listed as recipients, Sami Rakshit, head of the enforcement department, said.

The art continues to be owned by Russia and has been seized as evidence rather than confiscated, he said.

Finland is also mindful of international treaties protecting cultural heritage in times of war, and the Foreign Ministry is consulting with the European Commission on how that is applied to sanctions, said Teemu Sepponen, director of the export control unit at the ministry.

Russian State Duma Speaker Vyacheslav Volodin ordered a study into the art seizure and asked for measures to be proposed, according to the Duma website.

“As for the arrested paintings, they will return and pay a penalty,” Volodin said. “Those who did this in Finland probably do not remember their history well.”

The news follows Finland's move to take legal custody of 21 yachts in late March to investigate whether their owners are sanctioned following Russia's attack on Ukraine. The vessels continue to be held by the authorities, Rakshit said on Wednesday.

Countries across the EU are enforcing sanctions imposed on Russia. A yacht belonging to Russian billionaire Viktor Vekselberg was confiscated in Spain at the request of the U.S. government, and earlier on Wednesday the Dutch state froze a total of 12 yachts under construction at five shipyards.