Finnish Fortum Company Announces Decision To Leave Russian Energy Market

Fahad Shabbir (@FahadShabbir) Published May 12, 2022 | 11:30 AM

Finnish Fortum Company Announces Decision to Leave Russian Energy Market

HELSINKI (UrduPoint News / Sputnik - 12th May, 2022) Finnish energy company Fortum announced on Thursday that it had decided to withdraw from the Russian market in a controlled manner, adding that the process of selling Uniper's Russian subsidiary, Unipro, will also be resumed.

"We have decided on a controlled withdrawal from the Russian market.

As a preferred path, this solution includes the potential sale of Russian Fortum enterprises. The sale process for Uniper's Russian subsidiary, Unipro, is also expected to resume as soon as possible. In this regard, we decided to stop using the Fortum brand in Russia," the company said in a statement.

The completion of the sale processes may take some time and depends on regulatory approval, the statement added.

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