The Finnish energy company filed a lawsuit against the Russian Federation for 800 million euros

Finnish energy company Fortum has announced that it has filed a lawsuit in a civil court in the Netherlands against Russian PJSC Forward Energo (formerly PJSC Fortum).

The case concerns intra-corporate loans worth around 600 million euros, which the Russians stopped servicing. Most of the loans have reached maturity but have not yet been repaid. There is also no interest paid on all loans.

It is noted that the total value of the claim is approximately 800 million euros (including interest and penalties). The final amount depends on the ruble/euro exchange rate and the amount of accrued interest.

The trial is expected to be lengthy and last several years.

According to the original loan agreements, disputes between the parties were reportedly resolved in Dutch courts under Dutch law.

The company against which the case was filed was owned by Fortum, but in 2023 the Russian dictator Vladimir Putin placed it under temporary management by decree and transferred it to the Federal Agency for State Property Management (Rosimushchestvo) . After that, the company changed its name.

Russian PJSC Forward Energo/Fortum is one of the largest producers and suppliers of thermal and electrical energy in the Urals and Western Siberia. The company’s structure includes seven thermal power plants in the Chelyabinsk and Tyumen regions, as well as renewable energy facilities in other regions of the Russian Federation.

We remind you that the Finnish state energy company Fortum has started using nuclear fuel from the American company Westinghouse Electric to replace Russian supplies.