Finland grants sanctions exemption for deal on Helsinki Halli

The Ministry for Foreign Affairs on Thursday granted an exemption for a deal on the shares held by sanctioned persons in Helsinki Halli Oy, said the ministry in a press release.

The exemption was granted to Trevian Kasvu LP Ky. An authorisation from the National Enforcement Authority Finland is still needed for the deal.

Trevian Kasvu LP Ky applied for the exemption at the Ministry for Foreign Affairs at the beginning of January.

The Ministry completed its consideration of the application on Thursday and granted the exemption for the planned share transaction.

When considering the application for exemption, the Ministry assessed the planned deal from the perspective of fulfilling the conditions under the sanctions legislation and the purpose of sanctions.

The exemption granted by the Ministry requires that the revenue from the sale of the shares be frozen.

An authorisation from the National Enforcement Authority Finland is still needed for the deal on the Helsinki Halli shares.

The exemption granted by the Ministry for Foreign Affairs is part of the authorisation procedure of the National Enforcement Authority Finland.

The Ministry for Foreign Affairs granted the exemption on the basis of a derogation laid down in Individual Sanctions Regulation of the European Union. The grounds for the exemption were approved in connection with the EU’s 15th sanctions package.