Finnish energy concern Fortum lost control over its own assets in Russia in the amount of 1.7 billion. Euro. This is stated in the message of the concern.

The company decided to write off Russian assets due to the fact that the shares of its subsidiary in Russia were taken into the temporary administration of the Federal Property Management Agency on the basis of a decree by Vladimir Putin.

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The company added that they had been looking for a way to exit the Russian market for a year, but all applications for permission to sell the business - to both Russian and international buyers - remained without approval..

Interest in the energy company Fortum, where the Finnish concern owned 98.25%, was shown by Gazprombank, AFK Sistema and Invest AG.

The Russian division of Fortum consisted of seven thermal power plants.

Fortum estimated damage from Russian projects at about 2 billion. Euro.

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Earlier, Finland announced plans to send military equipment to the Ukrainian military participating in the exercises as part of the EU's European Military Assistance Mission to Ukraine.. Also, Finland is going to buy an advanced David's Sling air defense system from Israel..