Russian oligarch buys Finnish land with Cypriot ‘golden passport’
The sale of a large island from a strategically important
area in Finland to a Russian oligarch has raised concerns on so-called “golden
passports”, a scheme where EU countries exchange citizenship for investment by
wealthy foreign nationals.
In 2020, Igor Kesaev ranked number 727 in the Forbes’ 2021
billionaire list purchased a large island in Eastern Finland. By using a
Cypriot passport, the tycoon allegedly circumvented the authorisation procedure
required for such a transaction by the Finnish defence ministry.
Said to control some 70% of Russia’s tobacco markets, Kesaev
has been reportedly linked to arms dealing. According to the Global
Intelligence Files published by Wikileaks and newspaper Novaya Gazeta, Kesaev
has had close ties with the mafia and the Russian security services FSB and
GRU.
These connections have alarmed the Finnish defence ministry
since the Russian state apparatus has a reputation for using oligarchs as
decoys for political and strategic purposes. After the purchase, extensive
accommodation facilities were built in the area and a helicopter landing space,
which was not in the original plan.
In 2018, Finnish authorities raided a group of islands on
the country’s western archipelago.
Russian oligarch Pavel Melnikov had acquired them and built
accommodation and other infrastructure. Accused of money laundering, Mr
Melnikov sold the islands.
This time, the defence ministry is said to be keeping a
close eye on the developments on the island in eastern Finland. The law allows
for expropriation if the country’s security is compromised.
The European Commission has put pressure on Malta and Cyprus
to abolish the so-called golden passport scheme.
In November 2020, Cyprus dropped its scheme after Al Jazeera
television aired a documentary showing reporters posing as fixers for a Chinese
businessman seeking a Cypriot passport despite having a criminal record.
Last month, Commission President Ursula von der Leyen issued
a similar warning to Malta urging authorities to stop it as soon as possible.
“We should not forget that the golden passports potentially
enable the person to have access to 27 member states in the European Union,”
von der Leyen said.
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