Fortum said they still allow the possibility of selling assets in Russia

The Finnish energy concern Fortum theoretically retains the possibility of selling assets in RUSSIA, this was stated by the company's CEO Markus Rauramo, his words are quoted by Interfax.

However, according to Rauramo, the change of management in Russian assets complicates this process.

Earlier, Fortum said that the assets that were transferred under the external management of the Federal Property Management Agency will be written off. Their value in the company was estimated at €1.7 billion. This amount includes investments in the acquisition of Russian enterprises, received dividends and net financing.

“Despite the significant losses we will record, our financial position remains strong,” Rauramo said of the decision to write down the assets.

At the end of April, Russian President Vladimir Putin, by his decree, transferred 98.23% of the shares of Fortum (owned by Fortum), as well as 83.73% of the shares of Unipro (owned by Uniper) to the external management of the Federal Property Management Agency. New management was appointed in Fortum and Unipro. Vyacheslav Kozhevnikov, deputy chief engineer, chief power engineer of Bashneft-Dobycha LLC (controlled by Rosneft's subsidiary, Bashneft), became the general DIRECTOR of Fortum.

“The decree is a response to the aggressive actions of unfriendly countries, which are aimed at creating a regulatory framework for the actual seizure of assets of Russian companies abroad,” commented the transfer of shares to external management, presidential press secretary Dmitry Peskov .

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Fortum considered the presidential decree a gross "violation of international law and the rights of the company as a foreign investor."

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