Fortum has formally notified that it objects the unlawful seizure of Russian subsidiary

With its actions, the Russian Federation has caused the dismissal of PAO Fortum’s CEO and deprived Fortum of its shareholder rights. Fortum’s power plants in Russia are the most modern and efficient in the market, and maintained to high industry standards. Fortum considers Russia’s actions to be a crude violation of international law and of Fortum’s rights as a foreign investor. Fortum is preparing to take all necessary measures to protect its rights under relevant international legislation.

Fortum is analysing the overall impacts of Russia’s actions on the company and will communicate more in conjunction with announcement of its first quarter financial results on 11 May 2023.