The bill was drafted in connection with the country’s concerns about national security.
Defense Minister Antti Hakkanen has proposed banning Russians from making any purchases in the Scandinavian NATO member. The bill is due to be submitted to parliament by the end of the year.
“This is based on the aggressive war that Russia has waged and the assessment made about it,” Hakkanen told reporters.
The law will apply to citizens of countries whose homeland “has violated the territorial integrity, sovereignty and independence of another state and may threaten the security of Finland.” The ban will also apply to legal entities “resident in the territory of such a state or owned or influenced by a citizen or entity of such a state,” the statement said.