Russian assets of Fortum and Uniper are transferred to external management from the moment of signing the decree – Kommersant

The Russian assets of Fortum and Uniper are considered transferred to the management of the Federal Property Management Agency from the moment the relevant decree is signed by Russian President Vladimir Putin. This was announced by the press secretary of the head of state Dmitry Peskov.

During the press call, journalists asked Dmitry Peskov to clarify the timing of the transfer of Fortum and Uniper assets to Russian management. “From the moment of signing. There is some kind of bureaucratic process, but, of course, from the moment the decree is signed,” Peskov said during the conference call.

He noted that this initiative “mirror reflects the attitude of Western governments towards foreign assets of Russian companies.” “Because in a number of states there is a systematic transition from temporary administration to actual confiscation. There are differences, this decree does not deal with property issues and does not deprive the owners of their assets, ”he explained in a conversation with Kommersant FM.

25 April Vladimir Putin allowed transfer foreign assets to temporary management in case of seizure of Russian assets abroad. According to the decree, 83.73% of the shares of the Russian Unipro (owned by the German concern Uniper) and 98% of the shares of Fortum (owned by the Finnish Fortum) are transferred under the temporary management of the Federal Property Management Agency.

According to the press secretary of the Russian president, if necessary, the list of enterprises that are under external control can be expanded. “Actually, the main purpose of the decree is to form a compensation fund for the possible application of mirror measures in response to the illegal expropriation of Russian assets abroad,” said Dmitry Peskov. Expansion of the list of foreign companies under external management admitted and Rosimushchestvo.

Concern Fortum declaredthat after the signing of the decree by Vladimir Putin, he did not receive notification of the transfer of shares under external management in Russia. The carrying value of Fortum’s assets in the Russian Federation as of December 31, 2022 was €1.7 billion.

Milena Kostereva