Finnish state energy company Fortum has begun arbitration proceedings against Russia. The energy concern intends to demand compensation for its assets.
At the end of April 2023, Russian President Vladimir Putin introduced temporary management of foreign securities in Unipro and Fortum. The Finnish energy concern estimated losses from Russian projects at €2 billion. The start of arbitration proceedings is related to the violation by the Russian Federation of its obligations under bilateral investment treaties concluded by Russia with the Netherlands and Sweden, the publication says.