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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 19, 2025

    Featured image for article about Headlines

    HELSINKI (Reuters) -Finland's parliament voted on Thursday in favour of withdrawing from the Ottawa Convention that bans the use of anti-personnel landmines amid concerns over a military threat posed by neighbouring Russia.

    Finland joins other European Union and NATO members bordering Russia - Lithuania, Latvia, Estonia and Poland - in leaving or planning to leave the treaty, as fears grow about their much larger neighbour.

    President Alexander Stubb, who leads Finland's foreign and security policy, has defended the move.

    "The reality in the endgame is that we have as our neighbouring country an aggressive, imperialist state called Russia, which itself is not a member of the Ottawa Treaty and which itself uses landmines ruthlessly," he said.

    Russia has used landmines in its invasion of Ukraine.

    The Finnish decision follows similar votes in Estonia, Latvia and Lithuania, where parliaments have approved the withdrawal.

    Finland, which guards NATO's longest border with Russia, will be able to start stockpiling landmines six months after formally notifying other treaty members and the United Nations of its resignation.

    UN Secretary General Antonio Guterres on Monday launched a new effort to "uphold the norms of humanitarian disarmament", urging all states to adhere to existing treaties and immediately halt any steps towards their withdrawal.

    "I am gravely concerned by recent announcements and steps taken by several Member States to withdraw from the Anti-Personnel Mine Ban Convention," he said in a statement.

    In response to Guterres' concerns, Finland's Defence Minister Antti Hakkanen said the aim of the withdrawal was to protect civilians and minimise the loss of human lives.

    "I believe that our government and parliament have a duty to take measures that reduce Finland's risk of being attacked," the minister said on social media X.

    "Protection against the Russian threat takes priority," he added.

    Parliament on Thursday also agreed to permit land mine exports under usual arms sale control procedures.

    (Reporting by Anne Kauranen, editing by Anna Ringstrom and Ed Osmond)

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