Fortum - Notices of Dispute to the Russian Federation due to the violations of international investment treaty protection - Press Release - 13 July 2023
Country
Year
2023
Summary
13 July 2023 - Fortum has sent notices of dispute in order to protect its legal position and shareholder interests following the Russian Federation’s violations of its investment treaty obligations under the Bilateral Investment Treaties that Russia concluded with the Netherlands and Sweden.
These notices of dispute are the first step required in the arbitration proceedings which are expected to be initiated at the end 2023. Fortum will seek compensation for the value of its shares in PAO Fortum and its investments in Russia, amounting to several billions of euros.