The Czech Republic’s Supreme Administrative Court has rejected a cassation appeal by a Russian company that manages property abroad and is subordinate to the administration of the President of the Russian Federation.
The appeal concerned a decision to freeze 61 properties because the company is under sanctions, the outlet Novinky reports.
In October 2024, the Czech Financial Analytical Office, on the basis of a government decree, decided that international sanctions apply to the company, prohibiting it from disposing of the property.
The decision concerns 61 properties owned by Russia in several districts of Prague, as well as in Karlovy Vary, Brno, Vlkančice and Jevany. In its ruling, the court banned the use of these properties to generate income. The Supreme Administrative Court has now found the Russians’ appeal to be unfounded.
During the proceedings, the Russian side argued that the company is merely a property manager and that the true owner is the Russian Federation, which is not directly included on the sanctions list. However, the courts rejected this argument and pointed out that the Russian institution had full authority to dispose of these properties.
The Russian company is currently pursuing several other court cases in the Czech Republic related to sanctions.