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EU sanctions: Russia isn't happy with Finland making radical moves to oppose it

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Akshata Kamath
Akshata KamathApr 08, 2022 | 14:00

EU sanctions: Russia isn't happy with Finland making radical moves to oppose it

Finland and Russia have been making back-to-back power moves and the situation between both countries seems to be escalating faster than ever. By the looks of it, Finland seems to be preparing for a potential threat from Russia. 

In the last few days, Finland has seized 42 million Euros worth of paintings and sculptures by enforcing EU sanctions against Russia. This was followed by an invitation from NATO Secretary, who encouraged and welcomed Sweden and Finland to apply for NATO's membership. Russia then issued both countries with a threat of an attack, if they joined the NATO. 

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So what has Finland done? Finland has decided to stop dependence on Russian energy supplies and is planning on increasing their defence budget, while also signing an agreement with the US to explore tech opportunities together in the future. 

Here is how events unfolded one after the other: 

FIRST, THE SEIZED PAINTINGS 

In mid-March, the EU introduced sanctions to prohibit the sale, supply, transfer, or export of luxury goods, including artworks, to Russia. In the last week of March 2022, Finland began imposing the sanctions against Russia and prohibited 21 luxury yachts from leaving Finnish waters as they were suspected to be linked to sanctioned Russian individuals. Finnish customs officials have now impounded artworks valuing over €42 million ($46 million) and have prevented them from returning to Russia.

Finland has intercepted three art shipments at the Vaalimaa border crossing between Finland and Russia and has impounded one vessel. The Finnish Heritage Agency will now store the confiscated Russian artworks until the sanctions are lifted. 

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The seized artworks includes ''priceless'' paintings, statues, and antiques that were loaned by Russian museums to Italy. In March, the Russian museums had requested the Italian institutions to return the loaned artworks. Now that they have been seized by Finnish Customs, Russia is planning on penalising Finland.

Photo: Getty Images
Photo : Finnish Customs

 

NATO INVITATION 

The war on Ukraine has crossed tolerable limits for countries across the globe and has also led to increase in support among Finns & Swedes for membership with NATO. 

NATO is willing to quickly welcome Finland and Sweden into its ranks with open arms and also provide both countries with security guarantees if any potential membership angers Russia.

The tides have turned in both countries for the first time with more than 50% of Finns & Swedes supporting to join the NATO alliance. While 59% of Swedes want to join NATO if Finland is ready to join NATO too.

4-4_040722074506.jpg
NATO Secretary. Photo : Getty Images

As the NATO Secretary General spoke with Finland's PM about the "principles and procedures" to admit new members in NATO, the foreign ministers & their task forces are presently exploring ways to strengthen national security with NATO's help. The Prime Minister of Finland, Sanna Marin, understandably wants the decision on the NATO membership to be made quickly during the spring season.

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Meanwhile, Russia has warned of ''serious military and political consequences" on both countries, if they join NATO.

NO DEPENDENCE ON RUSSIAN ENERGY 

Finland has historically depended on Russia for various energy resources like coal, wood chips, nuclear fuel, natural gas and crude oil. But, given the attack by Russia on Ukraine, Finland's government is determined to get rid of Russian energy resources.  

When it comes to importing annual crude oil and petrol products, Finland imports about €3.5 billion worth resources (€2.7 billion worth crude oil and €0.8 billion worth petrol products). Russia used to satisfy about 91% of Finland's crude oil demand.  

But, from April 2022, oil refining and marketing company Neste Corporation (in which the Finnish government has invested) will replace 85% of Russian imported oil from other sources.  

When it comes to natural gas, Finland used to import 65% of natural gas from Russia in 2020. But from April 2022, Finland and all three Baltic States (Estonia, Lithuania and Latvia) will stop importing natural gas from Russia.

In terms of Russian imported wood chips (which are used in heating plants) and nuclear fuel, Finland aims to use their own wood chips and buy nuclear fuel from somewhere else.

Finland PM. Photo: Getty Images
Finland PM. Photo: Getty Images

DEFENCE BUDGET SHOOTS UP

 

Given the development, the Finland government has boosted their investment towards Defence, since Russia's invasion into Ukraine. They have agreed to add more than 2 billion Euros ($2.2 billion) to their defense budget, which is a 70% increase from its regular 2022 military budget of about 2.8 billion Euros 

 

THE QUANTUM AGREEMENT WITH USA 

Meanwhile Finland and the US has signed a new agreement to work together in the field of ''Quantum Information Science and Technology'' which Finland specialises in. US and Finland have had a history of working together on science and quantum field related technological updates, and this agreement intends to create innovative research, grow the future marketplace, build a strong supply chain, and grow the future generation of skills and talent.  

Do you think Finland and Sweden will join NATO against Russia's desires?  

Last updated: April 08, 2022 | 14:10
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