Fortum impairs Russian operations by EUR 2.1bn

Aside from Nord Stream 2, a stake in a Russian energy company as well as joint venture activities have forced the Finnish utility to make substantial impairments.

Photo: Fortum

Russia’s decision to invade Ukraine continues to stoke uncertainty among companies, while impairments related to Russian activities have increasingly become the rule rather than the exception.

Finnish utility Fortum, which has a slew of activities on Russian soil, also finds itself compelled to book impairments on Russian activities, including heating and electricity projects, to the tune of EUR 2.1bn.

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