Fortum has initiated legal proceedings against the Russian Federation due to the violations of international investment treaty protection
Fortum Corporation Press release 27 February 2024 Fortum has initiated arbitration proceedings against the Russian Federation and will claim compensation for the unlawful seizure of its assets in order to protect its legal position and shareholder interests. The commencement of arbitration proceedings follows the Russian Federation’s violations of its investment treaty obligations under the Bilateral Investment Treaties that Russia has with the Netherlands and Sweden. In July 2023, Fortum sent notices of dispute to the Russian Federation, which were the first steps required for the