Fortum said it is ‘investigating’ the situation for its Russian operations after President Vladimir Putin signed a decree to temporarily take over the Finnish company's Russia assets
HELSINKI, April 26 - Fortum said on Wednesday it is "investigating" the situation for its Russian operations after President Vladimir Putin on Tuesday"Fortum's current understanding is that the new decree does not affect the title of the assets and companies in Russia," the company said in a statement.
"However, it remains unclear how this affects e.g. Fortum's Russian operations or the ongoing divestment process," it added. Fortum and its former subsidiary, Germany's Uniper, on Tuesday became the target of new Russian legislation that allows the country to take over foreign assets from countries deemed "unfriendly and contrary to international law".The book value of the assets stood at 1.7 billion euros at the end of 2022.
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