The Kremlin linked the transfer of Fortum assets to temporary management with the protection of the interests of the Russian Federation
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The decree on the introduction of temporary asset management for Unipro and Fortum is necessary to protect Russia’s interests against the backdrop of actions by unfriendly countries. This was stated by the press secretary of the President of the Russian Federation Dmitry Peskov, commenting on the objections that Fortum made today.
“These actions are primarily dictated by the need to protect our own interests against the backdrop of the steps taken by countries unfriendly to us. All actions in relation to “Fortum” are carried out in accordance with our legislation. They will continue,” he said.
Earlier today Fortum reportedthat the decree on the mechanism for introducing temporary management of foreign assets in Russia is a “violation of the investor’s rights.” The Finnish company considered the signing of the decree “a gross violation of international law.” In this regard, Fortum promised to take all necessary measures for protection.
April 25 Russian President Vladimir Putin signed a decree on the mechanism for introducing temporary management of foreign assets in Russia, which introduces external management by the Federal Property Management Agency in relation to the Russian subsidiaries of the energy companies Fortum (Finland) and Unipro (Germany).
At the same time, the decree does not deal with “property issues and does not deprive the owners of their assets,” follows from the document. Peskov then named this decree is “a retaliatory measure against the aggressive measures of unfriendly countries”.
“The main goal of the decree is to form a compensation fund for mirror measures for the illegal expropriation of Russian assets abroad,” he said.
The Federal Property Management Agency explained that external management means depriving companies of the right to make management decisions in favor of the department. The measure is temporary.
On April 26, there was a change of CEOs in both companies. In Unipro, this position was taken by the head of the energy department of Rosneft, Vasily Nikonov, and in Fortum, the chief power engineer of Bashneft-dobycha (part of theRosneft”) Vyacheslav Kozhevnikov.
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