Nordic energy company accuses Russia of violating international law

Nordic Energy company, Fortum, has accused Russia of violating international law following the seizing of the company’s Russian subsidiary PAO Fortum.

The company has formally notified the administration of the Russian president that it strongly objects to the according decree based on which the Russian State Property Management, Rosimushchestvo, has seized Fortum’s Russian subsidiary PAO Fortum.

“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,” the company’s site reports.