Czech court upholds freezing of 61 Russian state-linked real estate objects

The Czech Supreme Administrative Court dismissed a cassation appeal filed by a Russian company that manages foreign state assets and is subordinate to the Russian presidential administration. The company had challenged the freezing of 61 real estate properties located across the Czech Republic.

Properties and sanctions background

In October 2024, the Czech Financial Analytical Office determined that the company falls under international sanctions prohibiting the management of its assets, citing Russia's war against Ukraine. The 61 frozen properties are located in the Prague districts of Bubenec and Streshovice, the spa city of Karlovy Vary, the Brno suburbs of Pisarky and Kniniciky, and the villages of Vlkancice and Jevany.

Russia's argument rejected

The Russian side claimed the company was merely a property manager, not the owner, and that the actual owner — the Russian Federation itself — is not included in the sanctions list. Czech courts at both the city and supreme level rejected this argument, noting that the company had authority to manage and dispose of the properties. The Russian company is involved in multiple ongoing court proceedings in the Czech Republic related to EU sanctions.