Rosatom and Fennovoima Claim Tribunal Wins
Rosatom and Fennovoima claimed favorable outcomes from a tribunal ruling regarding their dispute over a cancelled nuclear power project. The ICC ordered Rosatom subsidiaries to pay a net 606 million euros to Fennovoima.
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Rosatom and Finland's Fennovoima claimed conflicting outcomes from an ICC tribunal ruling on Saturday regarding the canceled 7-billion-euro ($7.8 billion) Hanhikivi-1 nuclear power project. The parties have been in legal conflict since Fennovoima scrapped the plant in May 2022 after Russia launched its military action in Ukraine. The arbitration outcome shifts financial liability, ordering Rosatom subsidiaries to pay a net 606 million euros plus interest.
