Finnish officials have taken possession of a coastal villa owned by sanctioned Russian billionaire Boris Rotenberg in Hanko due to his failure to pay property taxes totaling several thousand euros, according to a report by public broadcaster Yle on Wednesday, referencing records from the enforcement registry.

Yle noted that Rotenberg, a close ally of President Vladimir Putin, has been unable to transfer money to Finnish banks in recent years because of sanctions.

Previously, similar actions were taken against a commercial property owned by Rotenberg’s company in Helsinki due to unpaid utility bills that exceeded 27,000 euros.

Mikko Mantere, an attorney representing Rotenberg, informed Yle that the seizure of the property in Helsinki was rescinded after the debt was settled.

He also mentioned that the situation regarding the villa in Hanko is currently “under evaluation,” and that it is anticipated that restrictions will soon be lifted.

As of the beginning of this week, the seizure of the villa was still in effect, according to Yle.

Following Russia’s large-scale invasion of Ukraine in 2022, Rotenberg’s assets in Finland were frozen, leading to his inclusion on the European Union’s sanctions list.

While an asset freeze retains ownership rights with the individual, it prevents the selling, mortgaging, or other transfer of the property. In contrast, a seizure is a more stringent measure that permits authorities to sell the asset and utilize the funds to settle outstanding debts.

Rotenberg moved to Finland in 1991 with his then-wife and returned to St. Petersburg in 1998, acquiring Finnish citizenship in the early 2000s.

In 2023, Yle reported that his citizenship may have been granted without the approval of Finland’s security intelligence agency.

As of April 2025, Forbes estimated Rotenberg’s net worth at $1.3 billion.