It has been reported that Miley Cyrus and Justin Timberlake may be forced to cancel their concerts in Finland due to U.S. sanctions against the venue's Russian owners.

The "Adore You" singer is set to take her world tour to the Hartwall Arena in Helsinki, one of Finland's biggest entertainment venues, in June, while the "Suit & Tie" hitmaker already has a sold-out concert at the same place. However, the arena belongs to Russian owners, who are all close associates of President Vladimir Putin and included on a list of visa bans and asset freezes, imposed by the United States last month.

The owners are Gennady Timchenko, co-founder of Russia oil trader Guvnor, and brothers Boris and Arkady Rotenberg. Last year, all three bought a stake in Helsinki ice-hockey team Jokerit along with the arena, which is the team's home rink. They are the subjects of sanctions, which were issued against close allies of Putin, following the country's annexation of the Crimean peninsula from Ukraine.

According to the U.S. Treasury Department, Timchenko's activities in the energy sector are directly linked to Vladimir Putin, who has investments in Gunvor and could have access to Gunvor funds. Also, the Rotenbergs are both believed to be close childhood friends of Putin and have held big state contracts.

Helsinki concert promoter Live Nation Finland said that its lawyers were discussing with U.S. authorities whether the sanctions against the venue's owners would affect the upcoming shows. "We are examining the possibility whether this could have an impact on American artists' shows," said Nina Castren, chief executive of Live Nation Finland. "If it does, then we will need to come up with a different solution. But I believe that the problem will be solved and the concerts will be held."