Rosatom Sues Finnish Partners Over Nuclear Plant Contract Termination

Russia's state nuclear energy firm Rosatom has sued Finnish companies Fortum and Outokumpu in a Moscow court, seeking 227.8 billion roubles ($2.8 billion) as compensation following the termination of the Hanhikivi-1 nuclear power plant contract. The dispute arises after Finland canceled the contract in 2022, citing delays and political risks amid the Ukraine conflict.

Rosatom has accused its former Finnish partners of unlawfully terminating the engineering, procurement, and construction (EPC) contract and violating shareholder agreements. However, Outokumpu maintains it was never directly involved in any contracts with Rosatom linked to the Hanhikivi-1 project, asserting that Moscow is not the right venue to resolve such a complex international matter.

The project, valued at 6.5-7 billion euros, faced legal challenges following its cancellation. Both Fortum and Outokumpu claim no receipt of formal notifications regarding Rosatom's lawsuit. Meanwhile, the original contract consortium, Fennovoima, has halted operations except for engaging in legal proceedings with Rosatom, including arbitration in international courts.

(With inputs from agencies.)